Results 141-160 of 454 for nama speaker:Pearse Doherty

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

Pearse Doherty: ...if you're ... if you're ... well, the question was more in relation to anyway the fact why would developers - as I mentioned earlier on, I'm not asking you to breach your own confidentiality with NAMA - but why would developers transfer €300 million of assets out of the hands of ... away from NAMA's reach or the banks' reach, which had to be unwinded by NAMA, either voluntary with...

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

Pearse Doherty: And all of the association, as a NAMA developer, what do you say to people who don't like what's happening at this point in time; who ... that it's ... was owned by a NAMA developer that was rescued by the State; that ... what do you say to the families of those who stood up for Irish sovereignty back in 1916 who have issues with that development? And you mentioned that development in your...

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

Pearse Doherty: ...Lenihan, and the Lenihan family, and particularly, if there was a relationship, can you talk about any contacts you had with the individual in the run-up to the guarantee, the establishment of NAMA?

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

Pearse Doherty: And, you say when, in 2010, €836 million of property loans originating in just two years, between 2005 and 2007, were transferred to NAMA at an average discount of circa 60%, the resulting capital loss on these loans was very damaging. What was the nature of the €836 million worth of loans that were transferred to NAMA? Was it land, hotels, was it residential housing, what...

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

Pearse Doherty: Okay. In relation to the portion of land that was transferred to NAMA, what was the haircut on that type of ... on that product?

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

Pearse Doherty: Okay. Well, can I say in relation to your final ... to your statement at the end, in relation to "... history will show that NAMA was effective in ensuring that monies borrowed were repaid". Is that only in relation to Ballymore that you're talking about?

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

Pearse Doherty: And, can we just clarify that you're talking about the loans that were taken out from the financial institutions and not the money that was paid for those loans by NAMA?

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

Pearse Doherty: Okay. And in relation to NAMA, you'll be aware, or you may be aware, that NAMA, and this is from ... the public accounts committee received correspondence back in 2011 from Brendan McDonagh talking about the incentivisation mechanisms, and he talked at that point in 2011 that legally binding agreements had been entered into with nine debtors, under which the proposed incentives are in place....

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

Pearse Doherty: Okay, are you familiar with the incentivisation proposal that NAMA has?

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

Pearse Doherty: Okay, the reason I asked this question, without ... and I'm not asking you to breach your ... the confidential agreement - and nobody would expect you to do that - with NAMA, but your statement that everything will be paid back that you borrowed, the question that may arise is, if this incentivsation clause is within your contract, then you would actually receive 10% of that money that is...

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

Pearse Doherty: Can I ask you a final question? Mr. Mulryan, if the Government didn't guarantee Anglo Irish Bank and didn't establish NAMA ... if Anglo Irish Bank folded, given the level of exposure that you had to Anglo Irish Bank, where would you be today?

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

Pearse Doherty: The reason I ask is, you mentioned in your statement that NAMA bought you time, bought your company time, and that was required. There are many people that are maybe watching this that didn't have a vehicle to buy time. Many people's houses have been repossessed and they've never had the opportunity that others may have had. But if that time wasn't bought for you or for your company, the...

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

Pearse Doherty: Go raibh maith agat. Can I ask you, Mr. McDonagh, that, we've had evidence to the committee and the evidence suggests that the length of time that it took NAMA to undertake the loan valuations, that that caused problems in itself. And I recall you recounting just the length of time that it took you just to deal with the first tranche of loans and the haircut that came from that. Can you...

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

Pearse Doherty: ...Regulator had the power to go in and look under the bonnet, to do on-site inspections and do loan-by-loan analysis, send in a team as such. In your view, if there was, given your experience from NAMA and bearing in the mind that the Central Bank wouldn't have to wait for European approval and all that, how long would it have taken to do an estimate, you know, a tranche of loans within a...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Pearse Doherty: ...able to avoid an IMF Programme)." The second alternative, you say, is basically, where they provide ... where capital is provided or is acquired by the banks to cover the first tranche of the NAMA losses but you say that, in doing that, which you say is "The only safe way forward seemed to continue to rely on ELA while also pursuing all possible steps to rebuild confidence ... and...

Draft Commission of Investigation (Certain matters concerning transactions entered into by IBRC) Order 2015: Motion (9 Jun 2015)

Pearse Doherty: ...a new loan on the basis of an apparent verbal agreement despite the rejection on three separate occasions by the group credit committee of a version of the same proposal. How is this not relevant to the inquiry? Nevertheless, it does not fall within the terms of reference. The Minister allows only for transactions that existed before the liquidation and which were executed afterwards....

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Pearse Doherty: Okay, I want to focus on unenforceable securities. You'd be aware in terms of the NAMA test ... NAMA testimony and what's transcribed from the transfer of known loans to NAMA, hat there were €811 million of loans that were transferred to NAMA across the financial institutions that had unenforceable securities. From AIB's point of view, it made up €164.6 million and that was...

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Pearse Doherty: Can I just push you on that there, in terms of your reason list. You believed it was reasonable in that case. NAMA paid AIB €9 billion for loans. €164.6 billion was unenforceable or they had a deduction-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Pearse Doherty: Well it's in the... it's in the NAMA documents. NAMA C4b, page 6 and it's also in the NAMA document, C4b, page 4. And it gives a breakdown of AIB. It gives a breakdown of AIB-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Pearse Doherty: NAMA, for AIB, NAMA applied a deduction of €85 million, when the transfer happened, and afterwards they subsequently found out that €79.6 million additional loans were unenforceable as well. So of the €9 million that were transferred to NAMA, the fact that... €9 billion sorry. The fact that €164 million was unenforceable, that ... is that not a very large...