Results 7,221-7,240 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay alright. So the loan then would be issued on foot of that security being ribboned and bowed legally.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay. There was an internal audit in AIB in April 2006 highlighting an issue relating to outstanding solicitor undertakings in the Republic of Ireland division, your division. It's the reference page, it's actually up on the screen there in front of you but just for noting purposes, it's AIB B4, Vol. 1, page 20. And in that audit it would demonstrate that outstanding solicitors'...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay. Did AIB in all circumstances follow up and ensure that the security had in fact actually been registered?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: And are you aware that there are issues with NAMA when they actually took over the loan portfolios?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: That the registration never actually took place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: But there was a roll-over at the review. There was a roll-over of this difficulty on an ongoing basis within ... and it was a significant issue between 2006 and 2008.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Alright, thank you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Deputy John Paul Phelan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Do you have a comment or a view on that?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: You ... okay, okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay. Deputy Higgins.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Final question Senator.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: I...you're moving into value judgment, now ask the question, please.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Senator O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Deputy Doherty?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: We can talk through what Mr. Daly actually said yesterday because I wanted to wrap this up in ... because I had it in my notes. What NAMA, to my knowledge, and I can stand corrected in this, is the biggest national asset management agency in the world, or is a company that holds the biggest portfolio, so Mr. Daly comes with a certain authority, given the job that he has as the biggest of...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: He continues: Rarely, if ever, was it in the form of cash", "Rarely, if ever, was it in the form of cash. On the face of it therefore, developers had some skin in the game, but in reality that amounted to nothing more than unrealised equity positions levered by the developer to secure funding for new transactions. He then goes on to say, and what this means in summary: In effect,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: I wouldn't purport myself to have the same level of experience and knowledge that Mr. Daly would have, and in that ... I grew up in a council estate, my parents bought their home through a tenant purchase scheme, so I don't come with any big property background, but what I hear him saying here, very simply, is, there is an issue of acceleration and deceleration in the property market, and...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: I'm going to move to the wrap-up. Senator MacSharry, five minutes, and then Deputy-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Apr 2015)

Ciarán Lynch: Okay, thank you very much. Deputy Murphy?