Results 13,781-13,800 of 26,042 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Was the GRG loan book sold on to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: All the other sales, involving Aran, the €6.1 billion to Cerberus, Apollo, the €1.5 billion, Deutsche Bank, and the €800 million to Cerberus in July 2015, came from the GRG book.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: How much of the €2.5 billion would have come from the GRG book and how much would have come from-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: How much of the €12 billion relates to residential mortgages and how much relates to the SME sector?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: There are 900 residential mortgages. What level relates to the SME sector?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Mr. Blair will appreciate that the SME sector includes businesses as well as the distressed assets and in the farming sector it includes farms alongside farmlands. What level of value has gone in of those categories?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Where I am from, which is Limerick, Ulster Bank was seen as being at the forefront of SME and agricultural lending. When people were borrowing from the bank, they could hardly have expected to end up in vulture fund. Mr. Blair makes the point that it relates to assets. My point is that customers are concerned that they have a viable businesses, take a farm where someone might have borrowed...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: The bank did not look for guarantees from the vulture funds in relation to how family businesses or family farms would be dealt with.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Does Ulster Bank continue to be involved in any way in the management of any of these loans?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: I am looking for clarification about the GRS group. A company, West Register (Republic of Ireland) Properties Limited, was registered in 2009. What was its function within the Ulster Bank group?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Was Mr. Blair a shareholder in that company?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Mr. Blair was not involved in that company?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Had this group anything to do with GRS?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Yes, GRG

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Is it the holding company for GRG? Was it effectively the vehicle through which GRG worked?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: So GRG assets in Ireland were on Ulster Bank's balance sheet. I presume that West Register assets were also on Ulster Bank's balance sheet. Is that the case?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Was the global restructuring group, GRG, a separate legal entity or was it just a division within the Ulster Bank group?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: Was West Register (Republic of Ireland) Property Limited, in essence, the GRG for Ireland and the assets in Ireland?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: West Register (Republic of Ireland) Property Limited held assets. Mr. Blair did say-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Banking Sector in Ireland (Resumed): Ulster Bank (5 Oct 2017)

Kieran O'Donnell: It did hold assets.