Results 27,161-27,180 of 33,115 for speaker:Catherine Connolly
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: He said the only thing that was wrong was they did not have prior approval from the Department. It is pretty serious not to secure prior approval. In addition to providing information that would appear to be misleading, the amounts were way in excess of the limits that had been set.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: That is fine. I would like to move to on Mr. Collins and Professor O'Shea. I would like to ask questions later about the Irish Marine and Energy Research Cluster and guidelines for employment for staff. UCC acquired the IMI for nothing. In reply to Deputy Cullinane at the previous meeting, it was stated that all the directors left and UCC became the sole owner.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: That was not said. The following was stated, "We did not buy the company, rather we bought the asset". This is true but UCC acquired the company. We were not told that the college acquired the company and became the sole member and owner. Did the directors of the company stay on?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: That is 11. Which five were on the board previously? I refer to page 20
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Is Ger O'Mahoney, managing director of PwC ,gone off it?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: UCC acquired the company and everything attaching to it, including liabilities.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Mr. Farrell can do so in the Chairman's time shortly. If he does not agree with my question, he can say that. Is it correct that UCC acquired the company, including all its assets and liabilities?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: At what point did UCC acquire the company?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: On what date?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: On 21 November, UCC took over IMI with its debts.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: On the same day, the company UCC has just taken over, and which Mr. Collins referred to as part of the family, purchased IMI for €20 million
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Are the other assets still there?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: This all happened on the same day. UCC, using its own fully held subsidiary company, purchased the 13 acres and leased it back.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: That was funded by an Ulster Bank loan.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: I got all that. Mr. Collins has outlined that. Was a business case presented for this?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Can that be furnished to the committee?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: UCC got a loan and Mr. Collins said no taxpayer's money was used. It is disingenuous to say that. I will take back the word "disingenuous" because that is upsetting Mr. Collins. I will stick to the facts. The university got a loan from Ulster Bank but it got that on the basis that it is a public body. It is a recognised university that is 50% funded by the taxpayer. In the past, the...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Mr. Collins will give us that in the business case
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: At the previous hearing, the figure of €20 million was mentioned. The additional amount in excess of €1 million for furnishing was never mentioned. It did not surface anywhere.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Catherine Connolly: Mr. Collins did not mention the €1 million-odd. I want to know-----