Results 2,761-2,780 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay. All right. And did you observe any differences between the Irish banks and non-Irish banks which you engaged with in the level of rigour applied to valuation requirements?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: And in regard to the model that I was just speaking about earlier - we're in a property market with a high level of inflation operating in it where development A's equity would then become the deposit base for the next development and that would meet the loan-to-value requirements - was that operating outside of the Irish jurisdiction?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: In what other jurisdictions would you have seen that model in operation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: In the UK, which had upward-only rent reviews as well by the way.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: But in any other jurisdiction where there wasn't upward-only rent reviews?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: What was the requirement in Germany?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Did Germany have a property crash any way similar to what happened in Ireland?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Yes. Was the Irish property crash a domestic creation or was it, on balance, an international phenomenon?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay. Is it ... are you saying, on balance, that it was an international calamity or that it was home grown?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay. All right. Moving on. The other two matters I want to deal with you is that evidence has been provided to this inquiry to the effect that a discount of 5.2% was applied to the long-term value of properties to provide for due diligence, 0.25%, and enforcement costs of 5%, making up the total of the 5.25% of enforcement costs incurred or likely to be incurred by NAMA. In your dealings...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Can I also ask you to comment in general terms on whether you ever managed to negotiate a lowering of a bank's lending criteria and, if so, can you describe the general processes and a typical favourable outcome, without getting into any particular institution?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay. On the general taxation issue, Mr. Quinlan, is the property market entirely free and neutral given that when tax interventions take place, they do have an impact in the market in one capacity or another?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: And in that regard so, do interventions through tax measures have potential to favour one side of the market over the other? For example, investors-speculators-developers versus home buyers and retailers who want to rent shops?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: During the terms of reference of this period, which is mainly the 2000s, from your experience were the proportion of tax reliefs out there that were available through various budgets, were they a great more ... was there more on ... was there more of an offer of tax breaks for people who were developers and builders, constructors, than home owners?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: But given your familiarity with the market, there were tax breaks out there and you would have been familiar with them?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: So you weren't a beneficiary of any of the tax breaks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay, thank you. Deputy Higgins.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Okay. Just your earlier comments there, maybe just to kind of to round off Deputy Higgins's question, you said there was a massive feel-good factor back at the time, almost euphoric, I suppose, is the way some people might describe it in lots of ways. Was the media participating in a situation where it was adding to that feel-good?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)
Ciarán Lynch: Was that a significant part of your business model, Mr. Quinlan, that you would sit down with your executives and your management team and say, "We need to put aside a certain proportion of our budget here to be advertising?"