Results 9,961-9,980 of 16,492 for speaker:Ciarán Lynch
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Can I clear up one thing because everybody in the room wants to know the answer to it? In respect of the timing of last night's announcement, it could be construed that this was a statement that was going to be put together before the special liquidators came before the committee today. How long have they been in negotiations with the preferred bidders with regard to a voluntary code of...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: When was the phase 2 list completed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Is it the case, then, that two weeks ago, the special liquidators had a list of people? We will not quantify the sum because the special liquidators say it is confidential information. The special liquidators had a list of bidders who were compliant with a voluntary code as of two weeks ago?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: When was it confirmed because the press statement went out last night?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: The Deputy’s question is simple. Will the liquidators consider putting his proposal to the bidders? How many bidders are there?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Even the number of bidders is commercially sensitive?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Will the liquidators ask the bidders for a bid in respect of where the code of conduct would legally apply and one in respect of its voluntary application?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: I need to thrash this out with Ms Nolan again, if she does not mind. The earlier argument was that creditors would be at a disadvantage if we were to legislate for a code that would have devalued the book. Because everybody has now signed up to the voluntary code, there is no negative impact on the loan book. Putting aside the fact that the State is the major creditor, what is the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Would Ms Nolan admit that the creditor position has changed quite radically now that everyone is on the same hymn sheet in terms of purchasing?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Mr. Wallace referred to the people in resolution processes. When the banks' representatives appeared before this committee, they told us that thousands of people were in resolution processes but we discovered that the resolution process was a letter telling people to engage with the banks. I would be interested to know what Mr. Wallace's resolution processes are. For instance, how many...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: I want to move on to another matter.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: An earlier point concerned somebody who may wish to switch financial institutions. The audit committee members will be referring to this in their own questions. The concern for people on the existing mortgage loan book is that they are in performing mortgages, albeit by their fingernails. Am I correct in stating that everyone currently in a performing mortgage on the book Mr. Wallace is...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: What is the percentage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: That is less than 1%.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: There is a presentable risk, therefore, in that the variable nature of these mortgages means the rate can be changed upwards.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: If one looks at the other loan books - across AIB, Bank of Ireland and so forth - nobody has 99.9% of the book on variable mortgages.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: What is the percentage of people in resolution situations?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: Are they people who are not responding to any engagement?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: The people who are not engaging with the special liquidators could be doing so for 101 different reasons. Is Mr. Wallace indicating that half the 74% group are currently in a resolution process and the other half are due to come to some structured resolution?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Ciarán Lynch: If they have not completed their resolution process pending the sale of the bank, who will continue the resolution process with them?