Results 15,541-15,560 of 34,632 for speaker:Seán Fleming

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: That committee will decide whether to give us power of compellability. You are not compelled to be here today, Mr. Carville. You are here in your capacity as an official in the Department. We have not invoked compellability powers. We have to get approval from the Committee on Procedure and Privileges.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Yes, does someone want to second that proposal or think about it whether to refer it to the Committee on Procedure and Privileges? That is the route we go to get compellability. We do not have the power as of right unless we get sanction.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: We will discuss it in private session in the afternoon.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Is that because you think it might be covered in the procedures?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Do they say that in particular?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Are you asking me the question?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Is there a mechanism to engage on the fees without issuing a direction?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I am confirming there is a mechanism in place for the Department to raise an issue with a fee being charged without it involving a direction.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: The Deputy is over time but I will give him another few minutes.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: It is 2.5%.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Arising from the exchanges in the past few minutes, I will make a few comments which may help as the meeting proceeds. Mr. Carville stated that €280 million was received in 2016 as an interim dividend, a further 25% payment will be made to the admitted unsecured creditors of IBRC and a further interim dividend of €280 million will be received in the next few weeks. This is all...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Is he precluded from discussing the issue? Has he been advised that it would better not to discuss it or has he been precluded from discussing it? There is a big difference between being advised not to do something and being told one may not do something. The Department has used the word "advised". My interpretation is that the Attorney General has not told the Department it is precluded...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I am asking Mr. Carville to have someone immediately check with his office and have a copy of the letter sent to him if he does not have one in front of him. I would be surprised if he came to the meeting without a copy but if he does not have one to hand, he should get somebody to email it to the secretariat or the officials present. Mr. Carville has cited legal advice all morning. We...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Pardon me.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: We would like to be satisfied that the Department has received legal advice not to come but has not been precluded from attending. There is a difference between the two. The education and training board also informed the committee last week that it had been advised not to answer questions, even though there was nothing to preclude it from doing so. This is the second time exactly the same...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: The legal advisers may have said they had taken charge of the case and Departmental officials may not discuss it. If I was in a car accident, my insurance company would take charge of the case and tell me not to discuss it. That is the insurance company taking charge. We understand the position. I referred to the second sum of €280 million. Why is Mr. Carville free to discuss...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: That brings the figure up to 50%.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I understand commercial sensitivity, which is a phrase used here all the time. Will Mr. Carville explain why this contract is commercially sensitive? I know it is a commercial contract but I would like an explanation of the reasons it is commercially sensitive.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I am delighted Mr. Carville said that because it is the gist of what he said the first time. He gave the example of investment banks. His principal rationale for claiming this is commercially sensitive is that there may be another liquidation or something major of this scale in future and he does not want to disclose this information in case it prejudices the State's negotiations the next...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Mr. Carville must accept that the point on investment banks is not valid because it is a recurring issue. There could be recourse to investment bankers for the sale of more shares in other projects down the road. This is different.