Results 3,741-3,760 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

John Paul Phelan: Okay. Finally, earlier, very early, much earlier in our inquiry, Professor William Black was here. He was an American ex-regulator and under questioning from me he made the following quote, he ... in relation to auditors:The straightforward answer is not to allow the bankers to pick the auditors. There should instead be a panel of qualified auditors that are assigned to them, and we should...

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

John Paul Phelan: Thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Thank you, Chair. Good morning gentlemen. Firstly, Mr. Kelleher, I want to ask you in relation to the evidence of the chief executive of NAMA, before the committee he referenced ... he was speaking about project funding at the time and he told the committee that it was quite common for lending to be on the basis of very high levels of project funding, sometimes 100%. And where equity......

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: So you didn't take any active part, really, in how some of these projects were funded and the huge escalation in the costs of funding, in those kind of years 2000 to 2005?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Okay. I want to turn to Mr. Parlon, it has been touched on by previous speakers, were you conscious when you became director general of the CIF in 2008, of the appearance or otherwise of a conflict of interest between your previous role, if you like, and the new role that you took ... that you were taking up? And did you take any actions to alleviate such an appearance?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Okay. And were you aware, I suppose to put the other side of the question that I was just asking Mr. Kelleher, in your role as a minister in the Department of Finance, of the huge increases in bank property lending at the time when you would have been the junior minister, were you concerned at the time? Or is it only with the benefit of hindsight maybe that-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Can I ask you both this, I only have a minute left. In relation to the national spatial strategy, which we touched on previously, and decentralisation, in the two roles that you were both in at the time, was the Construction Industry Federation involved in lobbying extensively on both of those matters? I can remember being in a different role in the Seanad at the time of the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: -----the Construction Industry Federation about the spatial strategy-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: I'm not, I'm not actually. It's the question I asked.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: And on decentralisation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Thank you, Chair. Mr. Davitt, good afternoon. To touch on an area that Deputy Doherty mentioned in relation to methodologies for valuation, can you outline for the committee what changes have taken place since the period of the bust in terms of the valuation methodologies that are used by your members?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Okay. Do you not feel that perhaps, following on from the collapse in property prices ... that questions at least were raised as to some of the valuation methodologies that were used prior to the ... prior to the property collapse?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Following on from that, did you ever come across, in your current role or your previous role, any situations where valuers were put under pressure by financial institutions or developers to alter their valuations?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Okay. Again, to touch briefly on that matter that Deputy Doherty raised - the standards, the European standards that have been adopted. The group that ... which you are a member of now, I think has existed since 1971.

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Why is it that it took until 2012 for the Irish institute to join up? Is there any particular reason?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: But why did the institute not join the European umbrella group, if you like, earlier and adopt those standards, in the absence of domestic standards?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: You were president of the organisation on occasions. Was there discussions? That's what everybody-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Can you offer any explanation for the inquiry as to the often large variances in valuations that existed in property valuation in the period prior to the collapse in property prices?

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Yes.