Results 10,101-10,120 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay. So, given the overheating that you were aware of in the market, and there's too much debt as well in the real estate sector, and it was the first time an approach like this had been made to you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: -----did that concern you at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay. And just on page 7 as well, in your statement, you say: Ballymore sought to manage its multi-bank borrowing by: (1) Availing of credit from various providers so as to mitigate any level of dependence or overreliance on a specific source ... Were you successful in this?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Were you successful in availing of credit from various providers so as to mitigate any level of dependence or over-reliance on a specific source?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Yes. I mean, just because, looking at page 11 in the table that you provided, and it's very helpful. I mean, the majority of your lending is with one institution, Anglo Irish Bank. So how did it come to be that the ... I suppose the policy of Ballymore was to spread its risks across banks in terms of its borrowing, but then it ended up with having 50% of its borrowing from one Irish...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: How did that happen? I mean, was there a breakdown inside Ballymore in terms of your internal lending strategies, your risk procedures?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay. You also said that you sought to manage your multi-bank borrowing by - point 2 - "Presenting opportunities to several providers seeking the most competitive commercial terms." If we again look at the table on page 11, it would appear that Anglo Irish-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: I'm just using information that's been provided, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Thanks.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Again, on page 11, Anglo Irish Bank seem to have always secured the most commercial ... competitive commercial terms for you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay. But can I ask just then, as a final question, would you ever ... have ever borrowed from Anglo, even if it wasn't on the most competitive ... or most competitively commercial terms available?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: You probably would. Why?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Okay. And just my final question then, would you ever have sought to borrow from an Irish bank, been refused and gone to its subsidiary in the UK to borrow or vice versa?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: No. Okay. Thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: It's the answer to the question. It's fine, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Chairman, I mean, if its pertinent to the banking inquiry, as we have been progressing this-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: Just to clarify, Chair, I mean if you could clarify it through the witness. If this in relation to a particular commercial decision-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: -----then we shouldn't be able to go into it. We weren't allowed to go into other commercial decisions-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)
Eoghan Murphy: -----with the witnesses-----