Results 28,601-28,620 of 35,924 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Earlier I met with a number of individuals who had mortgages with IBRC. They are deeply concerned and quite angry about what is currently happening. One individual, who is a father of three children, has asked me to outline his situation to the committee. He has a split mortgage under a restructuring arrangement with IBRC that is reviewed on an annual basis. According to Mr. Wallace, that...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: This was a one year case but the same issue arises for three year agreements. The most Mr. Wallace can say to those concerned is that the bidder will comply with the restructuring until the time of the review, at which point all bets are off and there is no recourse to the Financial Ombudsman.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Have the bidders given any formal commitment on signing up to the voluntary code of conduct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Is that a verbal agreement?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: There will not be a formal agreement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: What is the nature of the formal agreements put in place in respect of the two sales of loan books that have been transacted heretofore?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: On 20 February, the Minister for Finance stated in response to a question I raised in the Dáil that formal agreements had been put in place for the aforementioned sales. I questioned him about the legality of the agreements and he could not indicate whether they are enforceable under contract law. He indicated the agreements were given to the public in the first instance and secondly...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: The question I asked last week dealt with unregulated buyers. In regard to the agreement between the unregulated buyer and the Central Bank, how did that materialise?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: The Minister also said that we would attempt, through his officials and the Attorney General, to ascertain the standing of the formal agreement and its legal enforceability. I presume he has done so in the context of the IBRC sale due to take place in the coming weeks and that Ms Nolan is the most senior official he would approach. Was Ms Nolan approached and has she approached the Central...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: The Minister specifically stated that he would seek out the legal status of the formal agreements with unregulated bodies which had purchased loan books and ascertain whether they are enforceable under contract law. He indicated that he would ask his officials to liaise with the Central Bank and the Attorney General on the matter. I am specifically asking whether that is happening. I am...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Is it Ms Nolan's opinion that the formal agreement with the unregulated entity, who purchased from another financial institution, may be legally enforceable?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Ms Nolan indicated that the Minister will legislate if there is a breach of the agreement on the code of conduct on mortgage arrears. Is it possible to have that retrospectively applied? Let us take it that a company, such as Tanager, which bought Bank of Scotland, voluntarily went into the code of conduct on mortgage arrears, unregulated in this State. Can we as legislators apply...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: While we are primarily here to talk about mortgages, I will pick up on the last point we were talking about in respect of KPMG and the fact that as special liquidators, Mr. Wallace and Mr. Richardson have not issued proceedings against their own firm in respect of its auditing of Irish Nationwide. We see revelations in the newspapers today to add to the arguments put forward by myself and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Are the special liquidators aware that McCann Fitzgerald was the same legal adviser on corporate governance to Irish Nationwide for many years?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Pearse Doherty: Does Mr. Wallace think that there is not only one conflict of interest but a number of conflicts of interest? I will summarise it because I want to move on to the mortgage issue. The special liquidators of IBRC are employees of KPMG who ask whether IBRC should sue KPMG as a result of the auditing of Irish Nationwide accounts carried out by KPMG. The special liquidators seek independent...

Written Answers — Department of Finance: Water and Sewerage Schemes Funding (25 Feb 2014)

Pearse Doherty: 172. To ask the Minister for Finance further to Parliamentary Question No. 364 of 11 February 2014, the reason the €240 million designated as external source of finance is in fact an equity investment by him, it is not listed under Exchequer or own resources funding; and if he will make a statement on the matter. [9104/14]

Written Answers — Department of Finance: Tax Collection (25 Feb 2014)

Pearse Doherty: 175. To ask the Minister for Finance the number of companies that are registered here which provide remote gambling services. [9459/14]

Written Answers — Department of Finance: Tax Collection (25 Feb 2014)

Pearse Doherty: 176. To ask the Minister for Finance the number of companies that are registered here which provide betting intermediary services. [9460/14]

Written Answers — Department of Finance: NAMA Portfolio (25 Feb 2014)

Pearse Doherty: 188. To ask the Minister for Finance if he will confirm that the National Asset Management Agency’s primary objective is to maximise returns from the assets it has acquired. [9017/14]

Written Answers — Department of Finance: NAMA Portfolio (25 Feb 2014)

Pearse Doherty: 189. To ask the Minister for Finance if the reported disposal of the National Asset Management Agency’s entire portfolio of assets linked to the borrowers in the North of Ireland is motivated by political or economic considerations. [9018/14]