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Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (Resumed) (10 Jun 2015)

Tom Fleming: I welcome the decision to commission a full inquiry investigation into IBRC transactions, even if it is belated at this stage after certain matters were comprehensively brought to the attention of the public stage by Deputy Catherine Murphy on numerous occasions. The terms of reference have certainly been expanded and significantly extended by comparison with the original KPMG inquiry that...

Leaders' Questions (9 Jun 2015)

Tom Fleming: ...replicated in this instance. A memo from a senior official in the Department of Finance reads: "[E]vents over the past few months have led me to question the effectiveness of the management team in IBRC ... I am concerned that the reputation of the IBRC and by extension the State has been damaged as a result of these events." Interestingly enough, according to a 2012 OECD perception...

Leaders' Questions (9 Jun 2015)

Tom Fleming: ...from the previous major banking scandals and the subsequent collapse of the economy. Serious concern and alarm has been raised among the public regarding the huge scale of write-down sanctioned by IBRC with a select group of 40 big businesses and a select group of individuals receiving a combined write-off of their debt of thousands of millions of euro which, it seems, could amount to...

Sale of Siteserv: Motion [Private Members] (6 May 2015)

Tom Fleming: The second individual was appointed by IBRC to represent its interest. The meetings to discuss how to proceed with the sale were held in the Dublin office of KPMG and removed from Siteserv’s office so that news of a possible sale did not leak to staff or competitors. In the subsequent sale the Rutland company offered €10 million more than the O’Brien bid of €45...

Sale of Siteserv: Motion [Private Members] (6 May 2015)

Tom Fleming: -----chaired the sub-committee. Siteserv external advisers recommended accepting the O’Brien bid. This went to the board of IBRC who agreed in double quick time that shareholders who had voluntarily backed the debt-ridden company got a payout of €5 million. The taxpayer got €40 million and a bill for €100 million when the remaining borrowings of Siteserv were...

Houses of the Oireachtas (Inquiries, Privileges and Procedures) Bill 2013: Second Stage (Resumed) (23 May 2013)

Tom Fleming: ...on behalf of the Government and people of Ireland vital documentation relating to ECB dealings with Ireland during the banking crisis, the events leading up to the troika bailout and the recent liquidation of the IBRC. Relative to the size of our country and economy, the cost of €62 billion is by far the most expensive relative to GDP among the more developed world economies. So...

Written Answers — EU-IMF Programme: EU-IMF Programme (31 Jan 2012)

Tom Fleming: Question 115: To ask the Minister for Finance if the terms of reference being used by the troika as it works towards producing a common paper on a possible alternative to the IBRC promissory notes, include the possibility of proposing some form of new substitute financial instruments as opposed to merely adjusting the interest rate and/or the duration of repayment of the existing promissory...