Results 27,121-27,140 of 33,115 for speaker:Catherine Connolly
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: The Chairman was to tell me when five were gone.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: I will have to come back to Mr. Love. I am going over to the University College Cork. Cuirim fáilte rompu. Is iontach an Ghaeilge a chloisteáil. To return to the Irish Management Institute, IMI, I believe Mr. Collins spoke about the seven minute limit on radio or television. We do not restrict witnesses to seven minutes; we are restricted to seven minutes. That is the first...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: No, I do not want Mr. Collins to take me through it. I have two minutes and I want answers.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Did it overextend itself in residential property?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Did it get involved in the residential sector?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: It did not overextend itself on residential property outside of that.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: The IMI was in financial trouble and the bank was about to foreclose on it. Is that not correct?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: It was said on the previous occasion that the IMI was in trouble with a loan and had a time limit.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: I will leave that question for a moment. Mr. Collins answered "No" and I will come back to that answer. The IMI was in trouble in any event and we also have University College Cork. Let me get this clear because I looked over Deputy Cullinane's very careful questioning. The entity known as the Irish Management Institute had nothing to do with University College Cork except that it had...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: I asked a very clear question. Is it correct that UCC took over the IMI at no cost?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Did all of the board members of the IMI retire, resign or move aside?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Who remained on the board?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: The witness can revert to me on that when I contribute for a second time. When UCC took over the IMI at no cost, it took over everything. Is that right?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: UCC also took over the IMI's liabilities at that point.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: UCC took over the IMI as it stood, as a company.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: For nothing.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: University College Cork now owns the IMI, which is a subsidiary of UCC. The witness will come back to me with information on what directors remained on the IMI board. UCC then purchased 13 acres of land from its own subsidiary-----
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: -----and paid its own subsidiary €20 million. Is that right?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: The subsidiary is in a position to deal with the legacy pension, although different terminology is used. The liability that arose as a result of doing away with the pension legacy became a charge on the land. It is now clear that UCC took over the IMI at no cost and then paid the IMI, its own company, €20 million for 13 acres of land. The company, which is owned by UCC, could then...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: No, please, I heard it all and my question is whether one charge was to do with the pension liability.