Results 14,841-14,860 of 18,593 for speaker:Michael Creed

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Were they minuted by the board?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Would that be in breach of company law?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Okay, I do not want to digress on that issue. Did the under-reserving in respect of claims and the issue of the €200 million withdrawn from the company’s balance sheet adversely impact on the necessary reserves that should been in place?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Will Mr. McAteer elaborate on practices at the coalface in respect of case management? How would the management of individual claims and cases at Quinn Insurance been at variance with best practice in the industry? How can what appears to be a calamitous and deliberately engineered systemic under-provisioning be explained in individual cases? For example, if I were to break my leg, my...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: In respect of the estimated call of €1.6 billion, there is provision therein for an exchange rate exposure of approximately €215 million. What is the timeframe envisaged for this provision? Is it ten years or 12 years? Is it exclusively for euro-sterling fluctuations?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: With regard to the subsidiary assets which were the subject of guarantees, what progress has been made in the disposal of these assets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Is there a ballpark figure for the accumulated subsidiary assets?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Will that come off the €1.6 billion provision?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: In Mr. Cullinan’s presentation he referred to meetings between the Central Bank and Quinn Insurance, the last of which took place on 24 March 2010. At this meeting the Central Bank informed Quinn that the €68 million gap between Milliman's estimate and PwC's estimate for 2009 was unacceptable. That was the end of an engagement which, according to the presentation, began in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Members sometimes lose sight of what they are dealing with, which I perceive to be a spectacular collapse of a major player in the insurance business. Whatever about business failure in itself, business failure that is engineered because of deliberate mismanagement, maladministration and greed is something the joint committee must address to ascertain how the pieces can be picked up. In...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: I refer to Quinn Insurance Limited, QIL, and the subsidiary companies in particular, to which I will revert later on the guarantees and so on. In respect of the fees and staff to which reference has been made, Mr. McAteer should give members an indication of what has been spent on security in QIL and its subsidiary companies.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: As for decisions made prior to Mr. McAteer's arrival and with the benefit of knowledge he has been in a position to glean subsequently, did the board of Quinn Insurance function effectively with regard to its obligations under company law and so on? For example, I refer to the issue of guarantees that were given and the stage at which they were notified to the regulator. Were all directors...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)

Michael Creed: Does the Deputy mean there has been no apology from Quinn?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Business of Joint Committee (10 Oct 2012)

Michael Creed: Does the Chairman propose to take the submissions as read? Given that the committee meeting will be broadcast live and the significance of the subject under discussion, I suggest that while it might be appropriate on other occasions, we should think twice about this approach in these circumstances. The submissions as presented to us contain significant issues with which the public tuning in...

Written Answers — Department of Education and Skills: School Accommodation (10 Oct 2012)

Michael Creed: To ask the Minister for Education and Skills the current level and status of classroom accommodation at a school (details supplied), in County Cork; the projected enrolment for this school; his views on whether this projected enrolment will necessitate a further classroom teacher and the provision of additional temporary classroom accommodation; if he will indicate the cost being paid in...

Written Answers — Department of Public Expenditure and Reform: Public Sector Staff Remuneration (10 Oct 2012)

Michael Creed: To ask the Minister for Public Expenditure and Reform further to Parliamentary Question No. 221 of 2 October 2012, if he will provide a breakdown of the €810 million reduction in the public sector pay bill for the first two years under the Croke Park agreement; if he will outline the amount of this wage reduction that was achieved by way of reduction of pay in the public service prior...

Written Answers — Department of Social Protection: Social Welfare Appeals (10 Oct 2012)

Michael Creed: To ask the Minister for Social Protection if a decision will be expedited on a State non contributory pension appeal in respect of a person (details supplied) in County Cork; and if she will make a statement on the matter. [43659/12]

Written Answers — Department of Foreign Affairs and Trade: European Council Meetings (9 Oct 2012)

Michael Creed: To ask the Tánaiste and Minister for Foreign Affairs and Trade if he will be attending the EU Foreign Affairs Council meeting on the 15 October 2012; if the Israeli Palestinian conflict will be discussed; the proposals, if any, he intends pursuing regarding an EU policy on excluding Israeli settlement products from the EU market; his views on a unilateral approach by him in this regard;...

Written Answers — Department of Public Expenditure and Reform: Commercial Rates Valuation Process (9 Oct 2012)

Michael Creed: To ask the Minister for Public Expenditure and Reform if he will consider introducing an amendment to the Valuation (Amendment) (No 2) Bill 2012, to deal with the anomaly which exists in which not for profit organisations including sporting organisations who hold a club licence have rates levied on their entire complex as opposed to the commercial aspect therein, resulting in an exorbitant...

Written Answers — Department of Agriculture, Food and the Marine: Disadvantaged Areas Scheme Payments (9 Oct 2012)

Michael Creed: To ask the Minister for Agriculture, Food and the Marine the reason a person (details supplied) in County Cork has not yet received their disadvantaged area payment; and if he will make a statement on the matter. [42597/12]