Advertisement

Doherty makes new claims about Denis O'Brien's relationship with IBRC

The Dáil has heard new claims of IBRC's relationship with Denis O'Brien. Sinn Féin'...
Newstalk
Newstalk

06.46 9 Jun 2015


Share this article


Doherty makes new claims about...

Doherty makes new claims about Denis O'Brien's relationship with IBRC

Newstalk
Newstalk

06.46 9 Jun 2015


Share this article


The Dáil has heard new claims of IBRC's relationship with Denis O'Brien.

Sinn Féin's Pearse Doherty has made the claims during a debate on the terms of reference for a Commission of Investigation, saying it's not wide-ranging enough.

He's used Dáil privilege to claim that IBRC's liquidators rejected three attempts from Denis O'Brien to renegotiate his credit agreements before they expired in June 2013.

Advertisement

He says Denis O'Brien then personally made a fourth attempt to negotiate a deal, after his loans had expired - which the liquidators accepted.

The terms of reference for the plan have been published are being debated in the Dáíl tonight.

Deputy Doherty says he is not alleging any wrongdoing - but he says the actions of the liquidators must also be covered by the Commission of Investigation:

The roles of Michael Noonan and Brian Lenihan will be scrutinised by the Commission of Investigation into IBRC.

The inquiry will now be able to examine whether Ministers Noonan or Lenihan were informed of any major deals involving IBRC and debts being written off - and what they did with any information.

Minister Noonan says the inquiry will be fully comprehensive - and says opposition TDs have their own part to play in making it work:

The government is giving the inquiry a €4 million budget and says it will issue its final report by the end of December.

The investigation will examine whether the Minister for Finance or his Department were aware of any deal to write down debts, or give customers a favourable interest rate.

In cases where they were told, the inquiry will examine whether they acted appropriately with that information.

It will investigate every case where the bank wrote off more than €10 million in debts, or did a deal on interest rates worth over €4 million - but it can go under those thresholds if there's a matter of public concern.

The inquiry will cover the period from nationalisation in 2009, until the bank was wound up in 2013.

A debate on the terms of reference will begin in the Dáil just after 5pm.

Earlier Taoiseach Enda Kenny rejected criticism from opposition leaders about plans for the inquiry into IBRC, saying judges are not 'the pawns' of government.

Opposition members have accused the government of an attempt to shut down debate about IBRC until after the next general election.

But Mr Kenny said the judge carrying out the investigation will be completely independent of the government.

Finance Minister Michael Noonan met with a number of opposition members yesterday evening.

These included Independent TD Catherine Murphy, Sinn Féin's Mary Lou McDonald and Fianna Fáil leader Michael Martin.

Ms Murphy welcomed signs that the government itself will also be subject to inquiry.

Markets editor of the Sunday Business Post, Ian Guider, told Newstalk Breakfast it is unlikely the Siteserv deal will get special treatment during the inquiry.


Share this article


Most Popular