Results 6,081-6,100 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: Okay, thank you. Just a final question to both of you so, in your opinion, or in the firm's opinion, did the external audit fulfil its role or not?

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

Ciarán Lynch: Okay. Mr. Dobey?

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

Ciarán Lynch: Okay, thank you. I'm going to move to wrap up. So, Senator MacSharry?

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

Ciarán Lynch: Okay, thank you. Senator D'Arcy? Okay. With that said, I ... if there's anything further you would like to add, Mr. O'Rourke or Mr. Dobey, before matters could be closed?

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

Ciarán Lynch: Thank you very much. So with that said, if members can just ... in doing this I would like to thank Mr. O'Rourke and Mr. Dobey for their participation today and for their engagement with the inquiry and now to formally excuse you and also to thank you for your engagement today. With that said, I now propose that the meeting is adjourned until 2.30 p.m. on Tuesday, 19 May 2015. Is that...

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

Ciarán Lynch: As we have a quorum, the Joint Committee of Inquiry into the Banking Crisis is now in public session. Is that agreed? Agreed. And in doing so can I remind members and those in public Gallery to ensure that their mobile devices are switched off? We begin session one is a public hearing discussion with Mr. Tom Parlon, director general, and Mr. Liam Kelleher, former director general, of the...

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

Ciarán Lynch: Thank you. So if I can I invite Mr. Parlon and Mr. Kelleher to make your opening statement to the inquiry, please.

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

Ciarán Lynch: Thank you very much, Mr. Kelleher. I call Mr. Parlon.

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

Ciarán Lynch: Thank you very much, Mr. Parlon, and thank you, Mr. Kelleher. Deputy Eoghan Murphy, you have 15 minutes.

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

Ciarán Lynch: I'll move it on now Deputy, if you don't ask.

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

Ciarán Lynch: Okay. Staying with the same document, Mr. Parlon, if I can maybe just ... and it refers to your opening statement as well. This report was commissioned by the CIF in 2010 from Lombard Street Research. It was quite critical of NAMA in 2010, and at the bottom end of the page there it says:NAMA is not intended [as a bank] ... as 'a 'bad bank' but as an asset manager. NAMA is therefore...

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

Ciarán Lynch: The question I'd be putting to you though, Mr. Parlon, is ... and, as Deputy Murphy outlined, there was quite a significant time investment, energy investment, and financial investment into putting this report together. Does it actually hold up or not?

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

Ciarán Lynch: I'll just press you on the point, if you don't mind, Mr. Parlon. The conclusion of that report was one of an entirely different action. Do you believe on ... or do you have a view now, looking back on the conclusion of that report, whether it was the best, or maybe a better option was available?

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

Ciarán Lynch: A year later, yes?

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Right, thank you. Deputy Michael McGrath.

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

Ciarán Lynch: Thank you very much. Thank you, Deputy McGrath. If I can maybe just deal with one final item on NAMA there before we move on. And that is ... the question is, Mr. Parlon, that the NAMA chief executive advised this joint committee that one of the notable features of the acquired loan portfolio was that many debtor connections did not have the terms ... or did not have the teams with the...

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

Ciarán Lynch: It's ... I ... I'll see if I can put it up there for you, but it's actually on page 16 of Mr. McDonagh's opening statement. But I'll just take you through the sentiment of the comment-----

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

Ciarán Lynch: -----more than anything else, and to get your comment upon it, Mr. Parlon. It says that:Some of the more professional debtor connections tended to focus on particular sectors in which they had developed an expertise; this was particularly the case for debtor connections whose main asset ... was outside of Ireland. However, one of the [more] ...notable features of the acquired loan portfolio...

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

Ciarán Lynch: And today is the CIF more cognisant of this ... of a more sustainable and more structured business model in terms of development?