Results 7,581-7,600 of 10,460 for speaker:Gerry Horkan
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Of the total number of private dwelling houses in arrears or non-performing, how many will be placed in the project for disposal? A total of 3,600 private dwelling houses are being considered. How many more houses or dwellings on the bank's books are not being considered?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: How many others are in arrears or non-performing? Is 3,600 the-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Many people are asking why the bank will not deal with these mortgages as opposed to selling them to vulture funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: It is fair to conclude from Mr. Stanley's statement that the bank is in this market for the long term. Vulture funds tend to want to get into the Irish market, take possession of an asset and sell it for more than what they paid for it.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Mr. Stanley is saying the bank would not entertain examining these 3,600 cases, or the 2,900 cases, one by one. He is saying the bank has done the restructuring already and has now moved beyond that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Would that involve a write-down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Is the bank's position likely to change?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Some people are frustrated because they hear stories of 60%, 70% or 80% write-downs while their loan is sold for a fraction of what they might be able to pay for it, their home is then repossessed and they are put out on the street. The State then ends up having to rehouse them in some way or other. The vulture fund gets the property and flips it for double or triple what it paid the bank...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Is the project for sale at this stage? It is under preparation for sale but is it out there yet?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: If they have had sight of the indicative portfolio, there must be a list for the portfolio.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: What would they need to do?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: I am not saying they could or they would but if every one of the 3,600 parties said they would enter such agreement, the bank would be willing to enter into an arrangement.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: There would be a loan write-down to value if the bank sold to a vulture fund.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: The bank would be willing to do that for individuals.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: Is that after the write-down or before the write-down?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: The bank has made provision in its own accounts for a write-down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: It is effectively willing to give the vulture fund a write-down.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: The bank would not be willing to sell it to the loanee for the same price.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: I accept the moral hazard argument and many people are making huge sacrifices. They are not changing their cars, they are changing their children's schools and they are not going on holidays in order to make repayments. Others are certainly in a position where it is not a case that they will not pay but they cannot pay. The bank is going to take the hit and sell the loan to a vulture fund....
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Business of Joint Committee
Matters Relating to the Banking Sector: Ulster Bank (19 Jun 2018) Gerry Horkan: The average refund due with respect to the tracker matter is less than €2,000 on the new cases. Is that correct?