Results 1,161-1,180 of 23,109 for speaker:Paddy Burke

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Allied Irish Banks (22 Mar 2018)

Paddy Burke: Therefore the bank has basically two years to clean up the books, whether that entails loan portfolio sales or whatever.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Allied Irish Banks (22 Mar 2018)

Paddy Burke: A number of solicitors and auctioneers have contacted me about trying to get loan facilities in order to close the sale of properties. They say it is nearly impossible with all the regulation and red tape. Does the bank find that is the case? There are so many obstacles in place. They need proof of funds and articles of association if a company is buying the property. The red tape is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Allied Irish Banks (22 Mar 2018)

Paddy Burke: Could Mr. O'Keeffe make recommendations to the committee that we could bring to the Minister for Finance or the Central Bank as to how it might streamline things for auctioneers, banks and legal people? The whole system is quite cumbersome at the moment.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Allied Irish Banks (22 Mar 2018)

Paddy Burke: There are also new regulations on debt investors. Would that have an effect on the price the bank might get for loan sale?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Allied Irish Banks (22 Mar 2018)

Paddy Burke: Yes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Allied Irish Banks (22 Mar 2018)

Paddy Burke: I am sure there are restrictions and new guidelines put on them as to how they will operate the loan sales - the loans that they buy and how they will operate them and adhere to the original contracts or whatever. It will have an impact on how they deal with the loans they have from an interest rate point of view, whether they can increase them or whether they can get vacant possession and...

Seanad: Electoral (Amendment) (Voting at 16) Bill 2016: Committee Stage (21 Mar 2018)

Paddy Burke: I welcome the Minister of State, Deputy Phelan, to the House. He is just in time to see his people from Castlecomer. Amendment No. 1 in the name of Senator Murnane O'Connor is out of order. Amendment No. 2 in the name of Senator Murnane O'Connor is also out of order.

Seanad: Electoral (Amendment) (Voting at 16) Bill 2016: Committee Stage (21 Mar 2018)

Paddy Burke: They are both out of order. The Senator cannot speak on them but I will allow her in on the section.

Seanad: Electoral (Amendment) (Voting at 16) Bill 2016: Committee Stage (21 Mar 2018)

Paddy Burke: That is news to the House.

Seanad: Electoral (Amendment) (Voting at 16) Bill 2016: Committee Stage (21 Mar 2018)

Paddy Burke: The Senator is moving away from the section.

Seanad: Electoral (Amendment) (Voting at 16) Bill 2016: Committee Stage (21 Mar 2018)

Paddy Burke: I ask Senator Murnane O'Connor-----

Seanad: Electoral (Amendment) (Voting at 16) Bill 2016: Committee Stage (21 Mar 2018)

Paddy Burke: Senator Ó Donnghaile without interruption.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: I welcome the witnesses. They have said that the case of liquidation is much more difficult than examinership. We have seen in the past when places go into liquidation that the liquidator is always the first person who is going to get paid, and things can be dragged out. In the case of future liquidations, will the ICF, given it is the body which will collect the funding, have any say on...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Would the ICF have any say in the appointment of the liquidator and who that would be? Would it give the liquidator a timeframe in which to wind things up?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: How will the 2% levy would be imposed on an insurance claim? Will the insurance company collect the 2% levy with the premium? How will the proceeds be handed over to the insurance compensation fund? Will this be done at intervals or at the end of each year? Will the insurance industry hand over the full sum in one amount? Will the 2% be immediately transferred to the ICF once a person...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Is it the case that MIBI could hold this fund for years? Will it invest that fund or what is envisaged?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Cut back.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Who are MIBI?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: Who has the oversight on MIBI?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Insurance (Amendment) Bill 2017: Discussion (Resumed) (8 Mar 2018)

Paddy Burke: We do not know much about MIBI but it will collect and hold the fund.