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Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, just tell me where you are within the terms of reference here now Senator and then I'll bring Mr. Fitzgerald in?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, I'll give a bit of space there but just be mindful of any reputational damage of people that are not inside the room here.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: If I go back to that now, when we were dealing with that last week ... the firm itself - I didn't allow that question and they didn't respond to it.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, give us the specific issue, coming back to Mr. Fitzgerald.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, thank you very much. With that now said, I propose that we take a break. The witnesses are reminded that once they begin giving evidence that they should not confer with any person other than their legal team in relation to their evidence on matters that are being discussed before this committee. With that in mind, I now suspend the meeting until 4.35 p.m. and remind the witnesses...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Mr. Smith and Mr. Fitzgerald, are you okay? So we go back into public session to continue this afternoon's proceedings, is that agreed? I now invite Deputy Michael McGrath to question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, thank you very much. Just two matters, I just want to ... before I bring in the next questioner ... in earlier questioning there with Deputy McGrath, Mr. Fitzgerald, you said you would return to the issue of the property experience and we didn't get around to it, so maybe if you could now.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: And that's in regard to the firm's audit team and the sufficient property experience that you might have.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, and, I suppose, a general question then following on from that, Mr. Fitzgerald: were you satisfied or were there sufficient qualified staff in Ireland in that regard?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, thank you very much. Deputy John Paul Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Thank you very much. Deputy Doherty.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay. Thank you very much, Deputy. Just on a related matter, before I bring in Senator O'Keeffe, I just want to ... when we spoke about the property experience in the audit team ... moving beyond estate agents and others that you indicated as being part of the audit team, Mr. Fitzgerald, did a team at any stage include a person who understood the concepts of commercial loan underwriting?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, thank you. Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Your phone.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Please turn off the phones. Like, it's not possible-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Okay, thank you very much.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Quickly.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Thank you very much. Senator Barrett, ten minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Ciarán Lynch: Senator D’Arcy.

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