Results 1,081-1,100 of 1,974 for speaker:Arthur Spring

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: I can give an example. A person's father is being put on the line in respect of a guarantee. His only asset is his home, which is what the collectors are going after. Perhaps Mr. Duffy will respond to my earlier questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: If not, why not?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: While I appreciate that, I would also like to hear from the bank that this is not a humiliating process for those involved. I was infuriated when I read in some of the newspapers this morning that my generation, through no fault of their own, will be humiliated into this process. It is nothing more than a mechanism to get people back to work and to be able to function in a normal pathway of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: Give me an estimate.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: After what haircut?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: The customer became liable to NAMA for the amount for which the latter was on the line.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: Certain people have come back out of NAMA with profitable businesses. Some are now in a position to tender for State projects. I want to know the full extent of what the banks are being repaid either by NAMA or the individuals concerned for the haircuts they were given.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: Companies have been removed from the NAMA process because they have returned to a profitable position. These companies are trading and some of them are tendering for State contracts. We were told by NAMA that it was going to pursue them not only for the amount they owed to NAMA but also the entirety of the loan, that is, the amount owed to NAMA, plus the 58% average haircut to which Mr....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: In regard to the profitability enjoyed by the individuals in question after they leave NAMA, they do not necessarily pay back the entire amount of the loan when they remove themselves from NAMA.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: I contrast the treatment meted out to sustainable developers with that of sustainable mortgage holders. The sustainable developers have been allowed to go into NAMA and, in many cases, have managed to trade their way to a profitable position once again. However, the individuals are being told they will remain on the line for an eternity. It is a completely unfair way to treat people and...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Overview of Financial Sector: Discussion with AIB (3 Sep 2013)

Arthur Spring: I thank the delegation for joining us today. I will take a different tack on this. The numbers were comprehensive, but the level of detail was not sufficient to engage with today. The delegates have heard that comment from all sources and I concur with it. How many of the bank's former customers, whether limited companies or individuals, were moved across to NAMA and what amount of...

Written Answers — Department of Finance: Universal Social Charge Application (18 Jul 2013)

Arthur Spring: 202. To ask the Minister for Finance the exact definition of the word universal his Department has applied to the universal social charge. [36778/13]

Written Answers — Department of Finance: Universal Social Charge Application (18 Jul 2013)

Arthur Spring: 203. To ask the Minister for Finance the reason his Department differentiates those with an income of more than €100,000 into two categories for universal social charge, at different rates; and if he will make a statement on the matter. [36779/13]

Written Answers — Department of Finance: Tax Code (18 Jul 2013)

Arthur Spring: 204. To ask the Minister for Finance if he considers the universal social charge to be an income tax; and if he will make a statement on the matter. [36780/13]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Arthur Spring: If Mr. O'Connor cannot comment on it, can he paint a picture for the public of how to get around that problem?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Arthur Spring: If a person believes the personal insolvency route is not working he or she can go to the courts with the creditor and try to thrash out a solution at that point.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Arthur Spring: I am of the opinion that the biggest threat to people is that the banks do not need to have any more bad debts. They would prefer to have a contingent liability than a bad debt. People who take out a mortgage have some level of knowledge but ultimately they trust in the provider. Likewise, in this situation they will trust the personal insolvency practitioner. A level of discretion will...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Arthur Spring: I will be the judge of that.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Arthur Spring: The next thing to be aware of is that if one chooses the bankruptcy route the banks will be sold and anyone looking to buy them will do due diligence on their mortgage accounts and if that is the case they will not want to be left with any unsustainable mortgages. It is important that Mr. O’Connor’s institution tells people they have the bargaining chip of the bankruptcy route....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Insolvency Service of Ireland: Discussion (17 Jul 2013)

Arthur Spring: Yes.