Results 301-320 of 4,810 for speaker:Liam Twomey
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: But most of the shareholders are supposedly domiciled in Ireland.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: We know nothing about the shareholders.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: We will return to this issue.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: I am sorry, Deputy, but I am going to move on. I will come back to him later for his next question.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: No.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: Mr. Mercieca said in his opening statement that he had engaged with a lawyer to see whether, in his opinion, there were grounds for an action to be brought against those responsible for running the company. Has Mr. Mercieca suspicions that there may be concerns about how the company was run and that he may well need to pursue the directors or those responsible for running the company?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: The total number of claims as of the end of March 2015 is around 619, that is, approximately 1% of the 75,000 people who were insured with Setanta Insurance. As the cost of the claims could run to €90 million, the average cost of claim is running at €150,000. That appears high when compared with equivalent costs in other insurance companies. Mr. Hession said there has been...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: Are we are responsible for €1.5 billion of that €6.5 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: A quarter of all state aid towards collapsed insurance companies is paid out by Ireland and we are members of the European Union.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: Given the failure of Quinn failure and of this company as well, is there a problem with regulation? Should we be looking at our regulations in this area?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: This question is to Mr. Quigley. If the Motor Insurers' Bureau of Ireland, MIBI, is made liable, is 100% responsible and is involved in 1,400 of the 1,700 cases, does it have recourse to the liquidator for funding?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: Can anyone comment on that? If it is made responsible for 1,400 of the cases, can it go back to the liquidator?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: The liquidator should pay out first and then the MIBI-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: We could end up in a situation where anyone with a claim could be waiting a decade while we wait for the Statute of Limitations to run out and for claims to be settled.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: It looks like it will go on for years.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: Average claims are €150,000 so there are serious litigation issues within the €90 million.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: I am dividing the €90 million among the 700 cases.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: Yes, I apologise.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: My figures are wrong.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Setanta Insurance Liquidation: Discussion (1 Apr 2015)
Liam Twomey: It still significant, although some would be very small.