Results 23,521-23,540 of 35,893 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. You talk about ... on page 6 of your statement, I think, that your borrowings on 30 September 2008 was €2 billion. Is that your entire borrowings? Does that include ... or is that just one company? That's the only company you have, is it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. Would there be other companies that would have had borrowings as well in your name?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. So €2 billion of borrowings at 30 September. Did you enter into borrowings from any of the guaranteed institutions after that point? In the months ... I'm not talking up until last week, I'm talking about ... you know, did you enter into borrowings with the institutions after that point?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Post the guarantee. You've given us the figure for ... on 30 September 2008. So between then and the end of the year, were you still drawing down more borrowings from the financial institutions that were guaranteed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. You've given ... on your statement, page 6, it says "The total outstanding par debt attributable to my ownership interests was €2bn at 30th of September 2008." So the question I am asking you is: did you enter into additional borrowings from financial institutions that were guaranteed between 30 September 2008-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: -----not today ... and the end of the year, for example?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. And would you have borrowed from any of the financial institutions between that date and the entry into NAMA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Yes, any of the NAMA banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. That's fine, from recollection. That's fine. And just to clarify this here, because there's been a lot of talk about what would be paid back and what won't. So, €2 billion is what your outstanding debts were at that point in time. That wouldn't have been all to NAMA banks would it, or would it?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay, to NAMA banks. So when we're talking about what will be paid back or not - and you talk about your assets reaching their values - so are we talking that €2 billion is going to paid back? Is that what we're basically saying, or is that you've been basically saying?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay, and are you aware of the haircut that was applied to your loans from NAMA?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay, that's fine. In relation to Brendan McDonagh ... Brendan McDonagh was before the banking inquiry and he gave evidence in relation to dealing with developers and how NAMA was established. And you talk about the efficiency in terms of NAMA. Mr McDonagh talked about, and I'll quote him, he says, "Probably about €300 million of that additional security, debtors decided that they...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: And were you party to this? Did you ... were you involved in this yourself or was this some other developer?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay. No if you're ... if you're ... well, the question was more in relation to anyway the fact why would developers - as I mentioned earlier on, I'm not asking you to breach your own confidentiality with NAMA - but why would developers transfer €300 million of assets out of the hands of ... away from NAMA's reach or the banks' reach, which had to be unwinded by NAMA, either voluntary...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: But the question is: why would ... what was the motivation for developers to transfer those assets to friends and family members, as Mr. McDonagh gave evidence to the committee, in your view, speaking generally?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Okay, okay. Mr. O'Reilly, you said ... you say in your statement, on page 10, that "our business is embedded in the greater Dublin community". Apart from the banks, what other State or city institutions would have dealings with in the course of your business?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: How important was that relationship with the local authority in Dublin, where your business was focused, and did you have a relationship with the city manager as part of that relationship, or dealings with the authority?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)
Pearse Doherty: Mr. O'Reilly, I'm sure you're aware of commentary that's been-----