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

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 (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 (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: 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...

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 (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: 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 (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 (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: Context Phase (4 Mar 2015)

John Paul Phelan: On the National Asset Management Agency, in answer to a question from Deputy Eoghan Murphy, Dr. Bacon stated, perhaps jocosely, that he stopped having a serious interest in NAMA when he was no longer paid to have an interest in it. Several members, including me, have quoted media reports from 2010, 2011 and 2012 in which Dr. Bacon gave strong opinions and comments on the workings of NAMA....

Seanad: Order of Business (6 Jul 2010)

John Paul Phelan: ...discussing the possibility of taking people from their communities and putting them back in to these institutions. I agree with Senator Ross in regard to the banking inquiry and the projections for NAMA. In regard to Senator Mooney's comments, I am surprised the Government was so naive as to take the word of these bankers, who are largely responsible for the difficulties in which we find...

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

John Paul Phelan: ...to, and he went off script I think even a little bit, to refer to the fact that there was no fire sale ... you mentioned Dr. Bacon specifically. There is evidence that exists of property sold by NAMA that were subsequently resold at significantly increased prices which would seem to contradict the evidence ... or the statement that you made with regard to the absence of a fire sale...

Seanad: National Asset Management Agency Bill 2009: Second Stage (9 Nov 2009)

John Paul Phelan: ...for Finance, he was landed with a poisoned chalice, which is an unenviable position. He has endeavoured to do his best during that period and, by and large, he has delivered, but I do not think NAMA could be considered part of that. We have had a lively discussion and most Senators have spoken on this very important legislation. I wish to refer to a few of the comments that have been...

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 (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,...

Seanad: Order of Business (24 Feb 2010)

John Paul Phelan: They should have voted for the Fine Gael proposal during the passage of the NAMA legislation.

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: We might get an opportunity to ask that question as well later. At the time that Dr. Bacon was conducting that particular report prior to the establishment of NAMA, did he have any commitments to financial institutions or property companies?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

John Paul Phelan: In more recent times Dr. Bacon seems to have changed his opinion on NAMA. I think in 2012 he said that it was not reaching its potential and that maybe a different course of action should be taken

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?