Results 6,021-6,040 of 10,460 for speaker:Gerry Horkan

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: How does one record accounting profit when one has lost €300 million?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: The bank in that example never took the hit of €620 million.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: The €20 million is taken into the profit and loss account.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: Is nobody in the Office of the Director of Corporate Enforcement, ODCE, or the accounting bodies saying that is not okay? That is opposite to anything I ever learned during my training.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: Mr. Butler's contention is obviously that the liquidity issue that was argued for at the time of the guarantee was not a liquidity issue but a solvency issue. The Minister and the Government were told by the banks it was a liquidity issue. I was not a member of the banking inquiry, or a Member of these Houses when it was conducted, but the inquiry was told that the Government was told it...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: Mr. Butler's contention is that the Government probably did not know about the solvency crisis, it was told there was a liquidity crisis and accepted that, but the ECB knew there was a solvency crisis.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: Obviously it is in the ECB's interests that it is repaid.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: If it was not repaid it would be a loss to the ECB rather than to the State. I have a final point on asset stripping. We heard evidence relating to GRG in particular. This GRG organisation was allegedly set up to help its customers and to bring them through the processes, but it became very difficult and businesses were lost. The group took over businesses, made them difficult to run, and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: The contention is that the bank was definitely wrong to have sent those letters but that, equally, the customer should have picked up on that at the time.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: Mr. Butler has outlined a solution. It was the case that accountants did not comply with the law and everyone turned a blind eye.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd (28 May 2019)

Gerry Horkan: We would never have been in this situation if people had stuck to the basics such as true and fair view, going concerns, and recording things at recoverable value - which is one of the four basic prudence principles in accounting that one learns on one's first day. They should have taken the hit when it was realised. If they had, we would not have had all these issues with promissory notes...

Seanad: An tOrd Gnó - Order of Business (22 May 2019)

Gerry Horkan: Is that agreed? Agreed.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: I welcome the Minister of State, Deputy Mitchell O'Connor. I remind Senators that they may speak only once on Report Stage, except the proposer of an amendment, who may reply to discussion on the amendment. Each non-Government amendment must be seconded. Amendment No. 1 is a Government amendment and arises out of committee proceedings. The amendment is consequential on amendment No. 32....

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: I am always anxious for good legislation to pass but I am in no hurry. We can be here until 3 p.m., if we do not have this work done by then.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: We have to adjourn at 3 p.m., whether we are finished or not. That is the Order of Business. I call Senator McDowell.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: Or the NUI panel.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: The omens are good.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: Amendments Nos. 2 to 4, inclusive, and 7 to 14, inclusive, are related. Amendment Nos. 3 and 4 are consequential on amendment No. 2. Amendments Nos. 8 to 14, inclusive, are consequential on amendment No. 7. These amendments may be discussed together by agreement. Is that agreed? Agreed.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: Amendments Nos. 5, 6 and 19 to 22, inclusive, are related. Amendment No. 22 is consequential on amendment No. 6. These amendments may be discussed together by agreement. Is that agreed? Agreed.

Seanad: Qualifications and Quality Assurance (Education and Training) (Amendment) Bill 2018: Report and Final Stages (22 May 2019)

Gerry Horkan: Amendments Nos. 15 to 18, inclusive, are related and may be discussed together by agreement. Is that agreed? Agreed.