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Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Alright and we'll deal with that as the morning now goes on. Our first lead questioner is Deputy Kieran O'Donnell. Deputy, you have 25 minutes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: I will just make a short intervention. When you are responding to this, there is some documentation that actually relates to that. I will reference it as you are making the response so it can just go up on the screen. Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Give the witness time to respond when he-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Allow Mr. Sheehy to respond.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Mr. Sheehy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Sorry, I need to let Mr. Sheehy time to respond.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: The question is: there was a rate of growth in AIB; was that worrying? And did that result in a €20 billion requirement of the Irish State to actually assist AIB as a consequence of that rapid growth and the management related to it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: I just asked Mr Sheehy to deal with the statement first and then we'll move on to the next question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Maybe ... don't apply a judgment-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Sorry Deputy, don't apply a value judgment to the figure. Mr. Sheehy's job is to explain the judgment of the figure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Deputy, if you ask a question, you have to allow the witness time to respond.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: I do and that's why I'd ask you to keep your questions short.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Deputy please, please ... Sorry, Mr. Sheehy and Deputy, please questions to the Chair and responses to the Chair. Please allow the witness to answer without a value judgment being applied. Indeed the committee in its final report will apply its own value judgments. Mr. Sheehy.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Thank you. I just want to clarify with you a couple of matters ... just finishing off that point. Very simply, Mr. Sheehy, looking back at what was the financial standing of the bank during that period, was the level of your remuneration, bonus and reward merited?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: I just want to clarify one thing with you, just to assist the committee and it is going back to that note of 30 September that Deputy O'Donnell related to - it is coming up on the screen in front of you. To your view, is that an accurate account of the evening's records? You are familiar with that document?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: I can only account, in fairness to yourself, Mr. Sheehy, the parts of those notes and those records, that it should be to yourself. I know there are records there in regards to Mr. Burrows, Mr. Hurley and others, but there are a number of points that refer to you. Do you consider that to be an accurate account?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Are you familiar with the document that Mr. McDowell, the former Attorney General, was bringing forward at the time? If you are not, I will just move on to another question.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: He was described as "hopeless" in a document which was sent to you. Was that a widely held view in AIB?

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Dermot Gleeson ... I just need you to attribute that, Senator ... Dermot ... Mr. Gleeson's commentary of last week.

Committee of Inquiry into the Banking Crisis: Nexus Phase (29 Apr 2015)

Ciarán Lynch: Who's this question to, Senator?

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