Results 18,401-18,420 of 34,663 for speaker:Seán Fleming
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: Why then did the college just not buy the company title of IMI in its own right and leave whoever owned the 13 acres to take the risk on the market value of that property to clear the other debts? Given that one was separated why did it need to get into the property hedging business, as I would call it? Why did it not just leave the property? It did not need it. It could have acquired the...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: Talk us through why it decided to get into the property side of it.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: For nothing.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: You interpreted it as pensions only, but the question was not about that.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: It acquired the assets separately.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: I presume, Mr. Collins, you considered the option of buying the company and the brand and then leasing the premises for the purposes of your courses without taking on the capital commitment. Explain it for Deputy Connolly.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: Why did UCC want to spend €20 million when it could have got the brand for nothing and lease the premises?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: UCC effectively came in as a banking intermediary for the property debt and pension debt. It is all hinging on the value of assets and property. It was possible for it to get IMI as a company and a brand and even continue to use the premises on a lease basis without this €20 million relating to the property. However, because it had liabilities, UCC came in as a financier to clear...
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: One hundred percent.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: Yes.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: How many UCC people are on the board of this subsidiary?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: It has majority control.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: I suggest that we finish this session at voting time in the House. We have to deal with two other institutions.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: Can we do five minute slots?
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: If you do, we will see how we are on the time.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: I will call Deputy McDonald next.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: I will call Deputy McDonald. After that, I will call Deputies Connolly, Aylward and Catherine Murphy. I ask them to be quick.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: Yes, and if we do not get to finish, we do not get to finish.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: The Deputy has two minutes left.
- Public Accounts Committee: University College Cork and University of Limerick: Financial Statements (22 Jun 2017)
Seán Fleming: I have to move on. The Deputy's time is up.