Results 8,401-8,420 of 16,537 for speaker:Brian Lenihan Jnr

Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages (20 Jan 2009)

Brian Lenihan Jnr: The loans are the assets.

Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages (20 Jan 2009)

Brian Lenihan Jnr: They are the assets.

Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages (20 Jan 2009)

Brian Lenihan Jnr: The loans appear as assets on the balance sheet.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: In opening this debate, I outlined in great detail the position with regard to the PricewaterhouseCoopers report. My difficulty is that much of the information in the report is commercially sensitive. Deputy Burton made a good point on whether we can share some information on a confidential basis regarding the exposure of the Irish banking situation. It was suggested that the figure of...

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: There are real difficulties in communicating banking information.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: We will have a chance to talk about section 2 on Committee Stage.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: We have all seen in recent weeks——

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: ——that the corporate governance standards of Anglo Irish Bank were not of the highest standards.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: The State must be in a position to take immediate action on any officers who violated those standards——

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: ——for the protection of the taxpayer.

Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages (20 Jan 2009)

Brian Lenihan Jnr: Deputy Morgan proposes that the nominee should be approved by and take directions from the Oireachtas. The nominee is a person to whom the Minister, in effect, delegates his shareholding. The nominee could be the National Treasury Management Agency or a vehicle established for the management of the company and clearly it is inappropriate that the Minister's nominee should be appointed by...

Anglo Irish Bank Corporation Bill 2009: Committee and Remaining Stages (20 Jan 2009)

Brian Lenihan Jnr: I cannot add much to the fact that under the legislation the Minister acquires the share and were there to be a nominee, the nominee would be standing in the shoes of the Minister. We do not govern the company through a committee, and it is important we keep the various arm's length aspects of these transactions in place.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: I put information on the record about this.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: Excuse me, Deputy.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: The only strategy is the Bill before the House today and not any other Bill.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: I am grateful to Deputy Rabbitte for giving me the opportunity to deal with the material that appeared on page 14 of The Irish Times today. I referred to it cursorily in opening the debate on Second Stage. The article suggested that on 29 September, when the Government decided to extend the bank guarantee to six financial institutions, a Bill was in existence to rescue only four...

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: I thank Members for the constructive comments made in respect of this Bill. Deputy Bruton raised the question of——

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: I am turning to that point now, which was implicitly raised by Deputy Bruton. Bondholders are not exclusive to Anglo Irish Bank. Allied Irish Bank and Bank of Ireland have substantial numbers of bondholders as well. The position of bondholders is that there is no extension of the guarantee to them under this legislation. This legislation nationalises the shareholding in Anglo Irish Bank....

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: There is no change in that position.

Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)

Brian Lenihan Jnr: I will deal with that in a moment.