Results 25,161-25,180 of 35,925 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: The first question was the extent when you mentioned that the CIF lobbied all political parties, just for the record, are we talking about every single political party here? Where there's very small political parties, there's larger-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: And just to clarify, did that mean that the CIF directly lobbied the Labour Party? And because the main political parties have different, you know ... parties grow in strength and reduce in strength, so did you directly lobby the Labour Party? Did you directly lobby the Green Party? Did you directly lobby the PDs, which would be very small in certain times but may be seen a main political...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: Go raibh maith agat, a Chathaoirligh, agus fáilte an tUasal Davitt chuig an coiste. In your opening statement you talked about how IPAV valuers are subject to self-regulation through IPAV, and that there are no national valuation standards for valuers in Ireland. And, bearing in mind that statement, can I ask you what is your assessment of the robustness in the valuation process used...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: But pre the crisis, were the processes robust is the question I asked.?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: So what was the weaknesses in the processes if they weren't as robust as they are now?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: And why are there no national valuation standards for valuers in Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: And has IPAV ever lobbied Government looking for such standards to be brought in ... such standards to be enshrined in Irish law?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: But prior to that, though, you never suggested there should be national standards brought in by Government. Is that correct? Is that what you are saying?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: And why would you ... why would the ... your body not suggest that your members would be ... would be accountable to national standards enshrined in law? Why did you never suggest this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: But the point I'm making is that you've actually never suggested that there should be a national standard up until 2012. That you were comfortable with the fact that you were a self-regulating body, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: And did anybody ever suggest that there should be - in Government circles or Department circles - that there should be a national valuation standard prior to 2012?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: Was your body comfortable, or not, being a self-regulating body for valuers?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: You mentioned the methodologies used in relation to valuation. Can you outline how the methodologies used in relation to Ireland pre the crisis compared to our European partners?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: Okay. The banks valued loans on an amortised basis as they were the originators of the loans. By contrast, NAMA, on acquisition of the loans, value them on fair and true-market-value basis. As a result, the aggregate loans came to be valued at €31.8 billion by NAMA in contrast to €74 billion value estimated by the banks. Against this background, how robust in your view were...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: You mentioned you'd have to believe. Do you believe that they ... in the robustness of the valuations that took place that amounted to the fact that the banks ... the institutions had loans of €74 billion that were written down as you said in 2009 by NAMA to the value of €31.8 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: So is there anything in your methodologies today that would suggest that the valuations that were given on those assets to the institutions would be any ... any way different?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: No, no ... the methodologies.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: So, using the practice that you apply today and ... going back to that period in 2006, 2007, 2008 ... the valuations in your view would still be of the level that they were?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Pearse Doherty: Okay. Can you explain this to me. We have had evidence in today's inquiry about some people that ... that would have been looking for trophy properties for status purposes - and I won't be mentioning any individuals ... no individuals' properties was mentioned in that case - but ... just explain this to me, from a valuation point of view. If somebody is after a trophy property ... and lets...