Results 31,941-31,960 of 35,932 for speaker:Pearse Doherty

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: Was the decision to sell Bank of Ireland Real Estate Investment Management to Kennedy Wilson a board decision and did the sale of Bank of Ireland's UK commercial loan portfolio to Kennedy Wilson arise during the discussions in 2011 in that regard? Was mention made of Kennedy Wilson becoming a future investor in the private investment consortium which invested in the bank?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: Mr. Considine will be aware that the loans were sold to Kennedy Wilson, which was funded by Deutsche Bank, and that Deutsche Bank subsequently sold some of that business to Wilbur Ross, who is an investor in the bank. Questions arise as to whether the investment by the consortium was a deliberate asset stripping of Bank of Ireland. Are Mr. Walsh and Mr. Considine concerned that Mr. Ben...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: I have one final question on this issue.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: I appreciate that there are rules and procedures in place and that Mr. Considine is satisfied with them. To get to the crux of the issue, in this case which was the largest real estate portfolio acquisition completed in Europe in 2011, the head of the non-core division of Bank of Ireland, Mr. Ben Hoey, which was responsible for selling it to Kennedy Wilson is now the managing director of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: I welcome the witnesses to the committee. The people who talk to me across the constituency and in the country feel very hurt by the banks, in particular by Bank of Ireland. They see that people who are in distress with their mortgages are not getting the support in terms of debt relief from the bank. They see that the taxpayer has invested €5.7 billion in the bank, yet the bank has...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: We will come to those points in a minute. I asked a specific question of both witnesses, as public servants in receipt of pensions in excess of €100,000 per annum, whether it is appropriate that in a four year period, Bank of Ireland paid a total of €600,000 in fees to both Mr. Walsh and Mr. Considine.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: Will Mr. Considine comment?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: I must disagree strongly. I made this point yesterday, that this was a sweetheart deal. In 2008, the Minister decided to talk to the Opposition parties on public interest directors and they put forward nominees, but they had absolutely no strength, no mandate and no specific role outside what another director has. The Minister appointed four former politicians, from the Labour Party, the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: It is in compliance now, but for two years, while Mr. Walsh sat on the remuneration board, the bank was in complete breach. The Bank of Ireland paid more than €66 million in bonuses to employees in complete breach of the direction of the guarantee that was given to the Bank of Ireland. The State fined the bank €2 million as a result of breaching that agreement and it lied to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: It is not an accusation against an individual, I am saying the bank lied to the Minister for Finance. There was an investigation into it and a report was issued.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: The bank provided incorrect information. The bank deliberately misled the Minister for Finance. Whether that is Mr. Walsh's responsibility or not is immaterial. The point is that he served on the remuneration committee for two years, while €66 million was paid in bonuses in breach of the agreement with the State. How did he stand over that? At any time during that period, did he...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Contribution of Public Interest Directors in Financial Institutions: Discussion (20 Dec 2012)

Pearse Doherty: Mr. Walsh is before the committee as a public interest director of Bank of Ireland.

Written Answers — Department of Transport, Tourism and Sport: Road Tolls (20 Dec 2012)

Pearse Doherty: To ask the Minister for Transport, Tourism and Sport the amount of money collected from road tolls to date in 2012; the amount of this money taken in by the State; if he will provide a breakdown based on the road the tolls were collected from and the companies operating them. [57245/12]

Written Answers — Department of Finance: Property Taxation (20 Dec 2012)

Pearse Doherty: To ask the Minister for Finance if he will provide the underlying calculations in support of the estimated yield from the proposed property tax of €250 million in 2013, such workings to set out the assumed range of property values and associated volume of properties, non-compliance rates, deferral volume and value. [57387/12]

Written Answers — Department of Finance: Property Taxation (20 Dec 2012)

Pearse Doherty: To ask the Minister for Finance if he will provide an estimate of the cost of administering and collecting the proposed new property tax and household charge arrears in 2013; if he will provide an estimate of administering and collecting the household charge in 2012; and if he will indicate in the Budget 2013 documentation where account has been taken of any increased cost. [57388/12]

Written Answers — Department of Finance: Household Charge (20 Dec 2012)

Pearse Doherty: To ask the Minister for Finance if he will indicate in the Budget 2013 documentation where account has been taken of the discontinuance of the household charge revenue in 2013 which was estimated at €160 million in 2012 and the discontinuance of the non principal private residence revenue, estimated at €70 million in 2012. [57389/12]

Written Answers — Department of Finance: Banking Sector Regulation (20 Dec 2012)

Pearse Doherty: To ask the Minister for Finance the controls that exist in the Irish Bank Resolution Corporation to prevent employees, their spouses, family and associates from benefitting from confidential information obtained from the bank, in the purchase of property from persons and companies which have or have had loans with IBRC. [57395/12]

Written Answers — Department of Finance: Banking Sector Regulation (20 Dec 2012)

Pearse Doherty: To ask the Minister for Finance the number of Irish Bank Resolution Corporation employees that have, either by themselves or with others, purchased property in each of 2011 and 2012 from persons or companies, which have or have had loans with IBRC. [57396/12]

Written Answers — Department of Finance: Disposal of Assets (20 Dec 2012)

Pearse Doherty: To ask the Minister for Finance the protocols and practices taken by the Irish Bank Resolution Corporation to ensure that assets disposed of by IBRC itself, or its borrowers under the auspices of IBRC, are disposed of in a manner which maximises the return to the taxpayer from the disposal. [57397/12]

Written Answers — Department of Public Expenditure and Reform: Health Service Reform (20 Dec 2012)

Pearse Doherty: To ask the Minister for Public Expenditure and Reform if he will provide the underlying workings in support of the €70 million reduced professional fees in the Department of Health 2013 budget; and if he will set out the way such savings estimates were validated by his Department. [57393/12]