Results 5,501-5,520 of 6,295 for speaker:Michael D'Arcy

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Committee and Remaining Stages (19 Oct 2011)

Michael D'Arcy: I thank the Minister for attending. He attends this Chamber regularly and it is appreciated by all concerned. The metaphor involving a horse and the stable door was used yesterday. I am of the view that the horse has run over the hill and died of old age at this stage. Unfortunately, the legislation was not in place when it was required. It goes back to that faithful night of 28 September...

Seanad: Order of Business. (19 Oct 2011)

Michael D'Arcy: I would like to raise the issue of banking institutions that take proceedings against individuals or companies and that hide behind the law when they have difficulties dealing with people. I refer, in particular, to those who are sent in to retrieve assets. It has been brought to my attention in the past number of days that some of these people, who are hired on behalf of lending...

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: I take this opportunity to respond to Senator MacSharry's comments on the mortgage situation. Those of us dealing, on behalf of members of the public in mortgage distress, have had our experiences with the banks. I refer to the BlackRock assessment of Irish banks, which was undertaken approximately six months ago, and to the statement of the Minister for Finance that BlackRock believed...

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: Will the Acting Chairman afford me a few more minutes? Between the six Members present, we would be doing well to get the full four hours out of this.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: I have spoken with people whose businesses have gone into receivership and been liquidated. Liquidators and receivers take their money out of the process first and the charges they apply are criminal. There is much discussion on reducing fees for lawyers and consultants and on changing the way we do business to ensure a genuine, fair regime, but the fees for liquidators and receivers are...

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: We have four hours. We will be okay.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: He kept going for a few extra minutes.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: The credit unions have been magnificent. As a young man in the 1980s when the country found itself in a similar position, the banks closed and refused to lend. It did not matter what business one was in, be it farming or something else, the credit unions were open. They kept many businesses going and people in employment because they kept credit flowing.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: We should accept that the Credit Review Office, CRO, is somewhat irrelevant. To date this year, some 83 cases in respect of amounts of over €250,000 have been taken to it. People do not reach the CRO because the banks do not give them an opportunity to apply for loans. This is the reality.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: This is my last point.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: The banks do not give people the opportunity to apply. They say, "Do not even bother. We do not want to move it up our chain of command because we do not think you are going to get there." It is crucially important that a measurement regime is put in place. We need to see that people are given the opportunity to apply because there are quite a few people who do not apply-----

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: This is my final point, if the Acting Chairman would let me finish.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: I am just about finished.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: It is important that we are given the opportunity to have a calculation process of the number of occasions people want to apply where the banks tell them not to. That would be important so that the banks cannot state that only 83 have come forward. That is a very misleading figure.

Seanad: Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011: Second Stage (18 Oct 2011)

Michael D'Arcy: Is it not likely that the banks will simply pass the levy onto their clients?

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: Will the Minister allow sufficient time to people who may choose to leave the public service so that they will have sufficient time to leave prior to any changes in the budget arithmetic which may impact upon their pension? I refer to the proposal from President Sarkozy and Chancellor Merkel for a constitutional law in each of the eurozone countries in order to extend borrowing beyond a...

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: I wish to point out they did not take the opportunity to speak on questions.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: His party should have picked the previous regulator properly.

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: Has the Minister any information on people who are about to retire on pension, either before or after the budget?

Seanad: Statements on Finance (6 Oct 2011)

Michael D'Arcy: I welcome the Minister to the Chamber. Sometimes I wonder whether Senator Darragh O'Brien was in the same place I was, watching the calamity I was watching.