Results 16,441-16,460 of 26,050 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And, Ms Nolan, why wasn't that spotted with the various due diligence that were done by PwC and others prior to that date?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: But surely ... surely equity-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: But surely equity. Sorry, would it not as a normal form of due diligence, would an equity stake in a loan not be a normal question to ask as part of due diligence?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: So then-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: So, can we take it from that the banks were not telling the truth?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Or they didn't know, okay. Can I ask, the issue in terms of the ... the discussions around, we'll say, with burden-sharing with the ECB and so forth, and I want to draw attention, Chairman, to Vol. 2, page 49, which is effectively a report that was commissioned by ... completed by the National Treasury Management Agency in March 2011, basically on burden-sharing for senior and subordinated....
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And how much would that have saved the State, the taxpayer?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: But you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Sorry, it's here, yes, apologies.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Yes, it's-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: €3.6 billion.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: So, in late 2010, if the IMF-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: -----had not exercised their veto, you believe burden sharing, tax saving of just short of €4 billion would have arisen in Anglo?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: Okay. And in terms of ... and in that particular case. Just going back to the issue in terms of the loans, do you think in hindsight, and looking back, that you could have got to grips with the level of potential losses in ... or, sorry, the level of losses that were building up in terms of the loan book in the banks, earlier than you did? And how would you have gone about that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And what would be your estimate, Ms Nolan, of what the cost of the guarantee, in terms of the recapitalisation of the banks, will be to the Irish taxpayer eventually?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: You don't see that arising?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: And can I ask you, the ... just going back to the ... I suppose the issue in terms of ... are you familiar with IAS 39, the accounting standard in terms of-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: The question really, I suppose, is that, based on that accounting standard, there would be a view that it allowed the delay of losses from 2005 onwards. At the time, when you were looking at due diligence, did you receive any professional advice regarding ... that, from '05 onwards, that there was a change in the way losses were assessed in terms of audits of banks?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: You wouldn't remember the detail, no, okay. Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)
Kieran O'Donnell: At the time when Anglo was nationalised on 18 January '09, was Anglo insolvent at the time?