Results 17,061-17,080 of 27,945 for speaker:Michael McGrath

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Yes. No, no, we're not going anywhere near that space but-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: -----but just to be clear, other grounds weren't cited for this view being expressed by the official. Are you saying that the only reason cited for the preference being a lower bid to be accepted was because of the identity of the highest bidder?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: No other grounds were cited-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: -----according to the ... the executive who-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: -----brought the information to your attention.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay. Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: And how certain can you be that those views and the view on the particular transaction were not the rogue views of an individual as opposed to representing the Department view or the political view?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: So, finally, is it your evidence that there was a pattern of pressure from the Department, when it came to asset sales, to have a less transparent, less open sales process than the bank?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Occasional?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: How many times?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: What rationale would be offered?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Chair, I want to formally put on the record a request that Mr. Aynsley's witness statement, including that extract and the testimony that we are being given, would be formally sent to the commission of investigation looking at certain transactions and other matters at the IBRC, that we would write and send that to them.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Thank you, Chair. Mr. Dukes, can I ask about the information flow between the bank and the Department of Finance? Under the original relationship framework, which was put in place, I believe, in 2009 ... July 2009, can you clarify when did the practice of sending board packs from the bank to the Department commence?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay, but you believe... sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Okay, and earlier than August 2011, in your view? Sometime earlier than that.

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: And what would board packs contain?

Committee of Inquiry into the Banking Crisis: Nexus Phase (30 Jul 2015)

Michael McGrath: Minutes of ... of board committees?