Great & good aka High Profile Persons (HPP) debtor review


#57

So if it’s all-in then you accept there’s an issue?
Or will you try to wriggle out then too?

And you think that his term extension and rate review not going to credit committee (on a c. €500mln facility) is not suspicious and worthy of political investigation, considering the bank was a state asset (liability) at that time?


#58

I thought there was absolute privilege when reporting on Dail proceedings?


#59

What have I tried to wriggle out of? Please answer this.

if it’s all-in then it was badly priced.
Re loan committee - Mike Ansley has subsequently implied that all transactions did go to loan committee - suitably worded as he’S precluded from discussing individual borrowers. Who do you believe?

Again, Similar to the sale of siteserv, a breach of practice, if material, is for ibrc to answer, not the borrower. Murphy rejects the idea she is electioneering, yet why has she brought the specific borrowers name into the public domain? Why not “Borrower A”?

I still fail to see where the 7% comes from. If the loan expired it would’ve incurred interest as was plus the default rate - most likely 2.5% (Default rate that is).


#60

Newstalk is gas this morning. Being listening to the B’fast show and can hear no mention of any of this hoo-haa.
And to think of the fine journalists that are Chris and Ivan (in fairness, he calls himself an entertainer)!!! They should stick to the Ploughing Championship or getting frantic about their support for the Yes campaign in the Marriage referendum.

He who pays the piper


#61

Help me out here lads. Are these the Siteserv loans or are they separate loans to DOB personally?
It’s very hard to make any sense out of all this, primarily because of the strictures on reporting.


#62

Some detail in the Grauniad: theguardian.com/media/greenslade/2015/may/29/irelands-media-silenced-over-mps-speech-about-denis-obrien
Speech is also on the Oireachtas website: oireachtasdebates.oireachtas.ie/debates%20authoring/debateswebpack.nsf/takes/dail2015052800027


#63

Ah, that’s one way to keep it quiet… :laughing:
He’d have done better to have the storm in a teacup blow over in Ireland and not get further than a small column in the business pages…


#64

Also from the broadsheet article:

broadsheet.ie/2015/05/28/red … rest-rate/


#65

He had substantial borrowings that predated his involvement in Siteserv. That was brought up in relation to one of the IBRC officers having to recuse himself from involvement in the Siteserv disposal as he was already responsible for DO’B’s other borrowings.


#66

RTE have come out of cover having originally pulled the story:

rte.ie/news/2015/0528/704498-dail-leaders/

I wonder if it will make the news on the TellyBox :angry:


#67

That would be defamatory unless he can prove that it’s true wouldn’t it?


#68

Thank you.


#69

As mentioned above, he’s only made it into a bigger story by trying to stop it coming out. Even in Ireland, it’s very difficult to halt the leakage of a tale as big as this.

Apparently, Dinny’s boys think his injunction also covers any Dail statement on the matter. More legal gravy for the lads.


#70

Would help to see the text of his injunction. That judgement isn’t available afaik but I am open to correction.


#71

en.wikipedia.org/wiki/Streisand_effect


#72

The terms of the injunction prohibited reporting the terms of the injunction AFAIK.


#73

I’m sure they were already aware, but I forwarded the Guardian piece to the NYT, WaPo, and NPR, with a suggestion they do a piece on “Media Mogul Muzzles Media”.

NYT are in print with this on May 30.

nytimes.com/2015/05/30/world … .html?_r=0


#74

Another article in the Grauniad today.

And one on the BBC mobile news app…


#75

Much like Esat, DOB is I’d say 100% convinced he’s done nothing wrong. Hand on heart stuff. He’d look plaintively at you and tell you how much good work he does.

In Ireland it makes sense to hire an ex communications minister and ex senior civil servant to your bid team and have a word socially with as many decision makers as possible and put in calls get any little snippet of information that’s helpful. Other things might have happened in the Esat bid too.

If a man is convinced and has evidence to support that this works and is “normal”, he will see no problem with it. And he’ll be completely hurt that anyone else would allege anything untoward has gone on.

In Ireland it’s perfectly normal for the wealthy to cut through all that bullshit chain of command compliance stuff and go straight to the top. It will only stop when the guy at the top refuses to take their call and says “No, Sorry, Follow the process. Talk to your relationship manager”. The “relationship managers” in any organisation in Ireland know that if they displease a HPP, their boss will get a call.

This is why I can see things from Pat Neary’s perspective (Mr 630k Pension Lump Sum). If he’d shouted stop a network would have started a chorus about him being “too red tape”, “not commercially minded” blah blah. He’d have been shunted into something inoccuous.


#76

Apologies yes. I didn’t mean to say that he had offered this “perspective” as to why he did nothing.

The perspective I meant was that in general terms he had risen through the ranks and survived so what other kind of a regulator was he ever going to be ? A bit like the boss guy in Reggie Perrin…except the quote would “I didn’t get where I am today by kicking up a fuss”