Results 1-20 of 46 for nama speaker:John Paul Phelan

Topical Issue Debate: NAMA Portfolio (4 Jul 2018)

John Paul Phelan: ...responses on the issue, however, the management of the stalled development in Naas is primarily a matter for Kildare County Council in the first instance. With processes under way involving NAMA and arbitration, it would be inappropriate for the Minister to become involved. It would not be proper for the Minister with responsibility for planning matters to make representations on this...

Financial Resolutions 2018 - Financial Resolution No. 4: General (Resumed) (12 Oct 2017)

John Paul Phelan: ...the attack. The affordable housing component of the budget had a whole section dedicated to the introduction of a new agency, Home Building Finance Ireland, HBFI, which will use the expertise of NAMA to ensure lending to smaller developers and those who are not already involved with NAMA. This will be established next year. We are all familiar with the builders in our communities who...

Housing and Homelessness: Statements (22 Mar 2016)

John Paul Phelan: ...collapse was intrinsically linked to construction. Housing construction was just a part of that; commercial construction was the biggest part of it. I listened to new Fianna Fáil Deputies criticising NAMA, which was established by the late Brian Lenihan specifically to be independent of politics and government, and advocating that politics and government should somehow get...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

John Paul Phelan: ..., well that's fair enough. Finally, I wish to ask you in relation to ... it is core document 2, pages 3 to 5. I'll get it myself, yes, "Exceptions to Credit Policy for Anglo Loans Transferred to NAMA". Information provided by the special liquidators on exceptions to credit policy for loans transferred to NAMA shows that the aggregate value of exceptions identified was almost €32...

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

John Paul Phelan: Okay. Can I ask you, then, in relation to questions touched on by previous speakers, loans taken on by NAMA from Anglo? Estimated that €9 billion worth of interest roll-up loans were taken ... were transferred from five banks, €3 billion relating to Anglo. Were you aware of the level of interest roll-up included in Anglo's loan book?

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

John Paul Phelan: Okay. Simple-minded, I ... I ... I think others would dispute that assessment. Mr. Aynsley, Senator D'Arcy asked earlier - and I think Mr. Dukes answered - in relation to NAMA, had it done a good job. I don't recall if you had answered that question. If you did, feel free to say you did. But what's your view on NAMA, briefly?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Okay. If NAMA hadn't been created, do you believe that you'd still be running the companies, your own companies and owning the property portfolio that you do?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: ...again, and I was trying to remember what page it was on, I was taking a note of it earlier. You said that ... kind of herald as an achievement your expectations that the sale of the loans in NAMA will reach a value well in excess of what NAMA paid for them. As somebody who, I mean, I don't know you from Adam, but you're a businessman, how do you feel about the fact that effectively,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

John Paul Phelan: Okay. NAMA applied a discount of 5.25% to the long-term value of acquired properties to cover due diligence, which was 0.25% and enforcement at 5%. In your dealings with the Irish banks, how would you rate the extent to which the banks sought robust legal documentation? And was reliance on solicitors' undertakings commonplace or rare?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: I finally, I want to try to ... I have a question. It's a general NAMA question, not a specific one and I know I don't want to get into your own details but the banks valued loans on an amortised basis as they were originators of the loans and NAMA, on the acquisition of the loans, valued them on a fair or true market value basis. As a result, the aggregate loans came to be valued at...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

John Paul Phelan: I was under the impression that the establishment of NAMA was of the order of half that €32 billion in NAMA bonds as collateral. Where does the €60 billion? I am just trying to get that figure.

Committee of Inquiry into the Banking Crisis: Nexus Phase (8 Jul 2015)

John Paul Phelan: .... Can I ask you now in relation to the decision of the Government to appoint Peter Bacon to recommend options for property and developers' loans in that crisis period before the establishment of NAMA? I remember questioning him about it myself when he gave evidence, when I asked him was he procured under the normal procurement process that would apply to such appointments. He said that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

John Paul Phelan: Chairman. Good afternoon, Mr. Cardiff. Briefly, at the start, I want to ask you about NAMA, and, in particular, the effectiveness of NAMA now, I suppose, with ... in reference to what was envisaged before it was established, and, principally, in relation, if you could, maybe, give the main strength or weakness of NAMA in terms of its effectiveness. I also want to ask you in relation to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)

John Paul Phelan: Thank you, Chair. Good morning gentlemen. Firstly, Mr. Kelleher, I want to ask you in relation to the evidence of the chief executive of NAMA, before the committee he referenced ... he was speaking about project funding at the time and he told the committee that it was quite common for lending to be on the basis of very high levels of project funding, sometimes 100%. And where equity......

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

John Paul Phelan: Previous speakers have referred to transfers from Bank of Ireland to NAMA. I've done a bit of investigation since that question was asked and it turns out that 73% of connections transferred across from Bank of Ireland to NAMA were subject to some sort of exception at the time, there was 191 connections, 139 exceptions, €8.8 billion worth of €9.8 billion transferred across were...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: ...personal guarantees to several different institutions. Do you have any breakdown as to the extent of that practice within the Irish banks in the period, obviously prior to the establishment of NAMA?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Can I ask you both, in relation to the establishment of NAMA itself, how did you both become involved? Essentially who recruited you to the positions that you now occupy? And, furthermore, in relation to the construct of NAMA, did you both have an input into, not, obviously, specifically the legislation, but the way that the institution was constructed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Can I ask you then in relation to when you had taken up that interim appointment and subsequently when NAMA was being discussed in the Oireachtas in 2009, the late Minister Lenihan indicated that one of the chief reasons for the establishment of NAMA was that it would lead to significant increase in lending by the banks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: -----earlier on. It's 8 February 2010, Simon Carswell, The Irish Times, that the IMF told the late Minister Lenihan in April 2009 that NAMA would not lead to a significant increase in lending by the banks in light of the fact that one of the chief reasons for ... given at the time in the Oireachtas for the establishment of NAMA was that it would lead to an increase. Were you aware of that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: Briefly Mr. McDonagh, I want to go back to a question I asked earlier in relation to the rationale that was given by many people at the time of the legislation to establish NAMA, that its establishment would lead to an increase in bank lending. I want to put a quote to you. It is a quote from the Dáil of 16 September 2009 during the discussion on the NAMA legislation. The former and...