Results 7,401-7,420 of 16,492 for speaker:Ciarán Lynch
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: I want to focus on side letters. Let us say, for instance, the revealed rent that is now in the register of commercial leases, prior to 2009, was €100,000 a year for a shop in Dublin. Would a side letter create things such as a fitting cost for the shop?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: It might contain things such as a rent break in the lease agreement.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: What other examples are there of things that might be contained in side letters?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: Prior to 2009 these would have been private and confidential. Is that right?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: During the arbitration process were those side letters private or were they revealed? If a tenant moved into a shopping centre and went into an arbitration, would that tenant, whose rent was benchmarked on that headline rent of €100,000, have access to those side letters or were they confidential at the time?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: Mr. Moran would understand what side letters were.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: Given that the side letters were private, did they give a true reflection of what the tenant next door paid in rent?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: When an arbitration of a rent was conducted in the bubble period, was full and accurate information available as part of the arbitration process?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: They are confidential by nature.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: Was there a potential for side letters to distort the rental market and to create valuations or rent agreements coming out of arbitrations that may not have reflected the true price in the market?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: Between 2002 and 2007, was Jones Lang ever engaged in a rent review where the rents went down?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: Could I seek clarification on one point? In page 5 of his statement, under the heading “Sources and extent of funding of the commercial real estate market in Ireland”, Mr. Moran uses the phrase, “Whilst we may introduce parties”. I think this is what Deputy Murphy was referring to. Mr. Moran is on the record as saying he is introducing parties. Perhaps he...
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: That is it for the present. I will bring the Deputy back in later.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: As I must deal with an in-house procedural issue, I must suspend the committee's public hearings for a short period and in so doing, must clear the Public Gallery. While Mr. Moran may remain in the room, I wish to attend to a matter that has occurred outside of this morning's proceedings as such.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: I propose to bring the committee back into public session. Is that agreed? Agreed. Senator O'Keeffe has asked to be excused from this morning's session because of illness. This is a procedural issue to which the committee gave consideration during preparation for our work. In such a situation the committee is of the view that it is necessary to proceed with the evidence. Following...
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: With that said I will continue to the business at hand and invite our second lead questioner this morning, Deputy Joe Higgins, who has 15 minutes.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: As Deputy Higgins was interrupted by the inadvertent playing out loud of a podcast just now, I will give him some grace time-wise given the commercial break he had to endure.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: I would ask Mr. Moran to comment upon that rather than take the lead of a question. He should give his view on it.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: This is Senator MacSharry's final question and he should keep it brief.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Ciarán Lynch: I would ask Senator MacSharry to be brief. He is over time.