Results 13,161-13,180 of 16,492 for speaker:Ciarán Lynch

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Mr. Dukes has three or four minutes to respond.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: We will have to conclude because we need to move to Deputy Pearse Doherty's questions shortly.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Yes, but I am trying to get other members in to contribute. I will come back to Mr. Dukes later I need to be very disciplined in allocating 15 minutes per member.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Deputy Timmins should allow the witnesses to respond and then ask the remainder of his questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Mr. Dukes did not have to come before the committee to tell us that. We knew that already.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Deputy Timmins and Mr. Dukes can engage in discourse over the future of life over a cup of tea. Would the Deputy put some questions to the witnesses? He has five minutes left.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: What percentage?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I will be specific with Mr. Dukes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I will be specific in a general way, if that is the case. A company that has been losing €20 million a year in Ireland, which employs several hundred people across the country - and in regions close to me employs 50 or 60 people - has an unsustainable rent agreement. Two independent rent reviews have said that the rent would be half of what it is at present if market rent were...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I will conclude on this because I am going to bring some other speakers in. What makes the IBRC different from NAMA? Although the IBRC is a State-run bank, NAMA is probably even less of a State structure in many ways. If the committee needs to raise this issue with the Minister for Finance it will do so. However, given the Minister's instruction to NAMA last year with regard to...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Can you be specific about some other methodology? I ask Mr. Dukes to give us supplementary information on the number of cases in which the IBRC is acting as a landlord in the Republic of Ireland. Can he provide us with information as to how many rent reviews have been sought from those properties and in how many cases a rent reduction has been introduced? That is statistical information,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I am not looking for the names of the 100 companies. I would like to know, however, in how many cases a rent review has been sought and in how many cases a rent review has led to a reduction.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I take it that Mr. Dukes will provide that information to the committee in supplementary form.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: I thank Mr. Dukes. I have a few items to deal with before we get things under way. Is it agreed that the opening statements made this morning will be published? Agreed. As this part of the meeting will conclude at 1 p.m., I must ensure that I will accommodate all speakers who present themselves. I propose that the first round of speakers from both the Government and Opposition sides be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: In that context, the witnesses might provide the joint committee with a broader explanation or understanding as to how the Irish Bank Resolution Corporation, IBRC, operates at present. It also has a property portfolio, to which Mr. Dukes referred, in its capital base. How extensive is that property portfolio? Unlike the other banks that will appear before the joint committee and which are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: How many of the aforementioned properties are located in the Irish State?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Okay. For how many of those properties is the IBRC acting as landlord?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: Yes, where IBRC has a landlord relationship with the client in occupation of the dwelling.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: The IBRC is landlord to 100 different businesses across the State that are renting.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Ciarán Lynch: When the Minister for Finance, Deputy Noonan, made his announcement last year with regard to NAMA being obliged to deal with upward-only rent reviews and to take a more positive position in that regard, was that announcement extended to the IBRC?