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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Could any of them potentially lose their homes?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: No, I mean are there legal proceedings against them relating to repossession of their homes.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Of the 31 customers previously mentioned, only seven have gone down the appeal route. Did the others specifically say to the bank they were not availing of the appeal route?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: With regard to the 22 people with redress and compensation, if they do not appeal to the independent review group, is that the full and final settlement as far as the bank is concerned?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Okay. If the 22 customers wish to go to the independent review group, would that facility be forthcoming?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: What is the story with the two remaining customers who did not avail of the appeal?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Define "sensitive". We are looking at people who have had cheques for nearly three years but they have not cashed them. What is going on?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Is the bank engaging with the customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Are there legal proceedings against those customers?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Mr. Masding has indicated he was not at the bank when the trackers came in and he joined the bank, if I am correct, in January 2012.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: There was a High Court case. We had a group of people in here with Mr. Padraic Kissane late last year and two of them were customers of Permanent TSB. They are Mr. Thomas Ryan and Ms Hazel Melbourn. They presented very well and their presentation shook the foundations on this matter. It brought utter clarity for me. With Thomas and Claire Ryan, the High Court in September 2011 upheld a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: The witness mentioned systems.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Why was it subsequently decided to withdraw the Supreme Court case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Mr. Masding is talking about customer welfare. The bottom line is he stood over a Supreme Court appeal for three years before withdrawing it in February 2015. We only represent the public. A lady rang me before Christmas after an agent of Permanent TSB called with a legal letter to her home. She was petrified. It was around 6 p.m. All I could do was take her call and put her in contact...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: The peak was 58% of the loan book being trackers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: What did it peak at?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Of the entire loan book.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: Is that in value terms?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: That is astounding.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Tracker Mortgages: Permanent TSB (6 Feb 2018)

Kieran O'Donnell: The bank took a test case and spent five years from 2010 to 2015 fighting four people on two mortgages. Mr. Masding is explaining what happened but the question is whether he can stand over the approach when effectively the bank was forced to withdraw a Supreme Court challenge as a result of the work done by the Central Bank of Ireland?

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