Results 25,641-25,660 of 35,894 for speaker:Pearse Doherty
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: No I understand you paid nothing to the banks but the Irish taxpayer paid for the banks, paid for-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: And is there any recourse in a situation like that there, where, because of documentation, you've outlined some of the issues that would arise in these circumstances, is there any recourse in relation to this €3.5 billion?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: It's gone.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: It's gone. Right. In relation ... it's absolutely staggering, the figure of €3.5 billion, for, I'm sure, for the general public there. In relation to the Vol. 1, page 35 figure, €2.5 billion ... we look at the property valuation process that NAMA used, and particularly the property uplift adjustments - this is the long-term economic value - that NAMA used and approved by the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: I understand. Across the board,-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: -----the average uplift, which was 8.8%, will have materialised, and maybe not, because there's a rental issue, as you have mentioned, income as well that has been generated.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: But the question I have specifically is, for example, the 9.5% uplift in NAMA's properties that were secured in the loans ... do we know if that was achieved? Do we know if it was exceeded?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: Yeah.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: I appreciate that. And Mr. McDonagh, just to finish this point, do you have any sense ... because, obviously, while it would be impossible, as you say, to track them because of they're bundled together, do you have any sense, for example, that NAMA's loans could've outperformed the uplift that was expected, given that they were heavily concentrated in the UK market? This suggestion has been...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: Okay. So, there's no way of determining-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: -----whether these uplifts happened.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: Yes. In relation to, again, evidence that's supplied to the committee here which deals with bankruptcies - it's in Vol. 1, page 6, table 2 - you give us a detail of the number of NAMA-managed debtors, which is 207 debtor connections. And there're 24 connections with at least one bankruptcy. And it's obvious that the majority of them are in the UK. It also states that NAMA is in a...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: And that's still the case.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: And you mention in this evidence - and I just want you to clarify this here - the 770 debtor connections comprised 5,000 borrowing entities - you might clarify that - 12 loans and over six-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: It's a typo. I was-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: We've been examining the concentration and the 29 borrowers who had a huge amount of lending, but 12 loans was, I think, a bit optimistic. And 60,000 individual properties in security, so that’s the total portfolio of NAMA; would that be-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: At the start. And, in relation to ... of the borrowers that you’re in a workout relationship with, is that relationship that they will pay back the original loan that they took out, or will it be the amount that was acquired ... that NAMA paid for the loan?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)
Pearse Doherty: So, when NAMA was established and when the five tranches were transferred, NAMA was due, from the borrowers, €74 billion; is that correct?