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Catherine Murphy makes new IBRC claims under Dáil privilege

ger12

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Feb 25, 2011
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Today the Dáil heard new claims surrounding the treatment of businessman Denis O'Brien by the former Anglo Irish Bank.

"Speaking under Dáil privilege, Social Democrats TD Catherine Murphy said that IBRC accepted a personal guarantee from the businessman to issue a loan to another man - despite the fact that both men already "owed significant sums" to the bank."

She claims that Mr O'Brien gave a personal guarantee in order to secure a bridging loan for the property developer Paddy McKillen and that this proposal was brought to IBRC by Richard Woodhouse, an IBRC executive who managed Denis O'Brien's accounts with the bank.

This has just been reported here
Dáil hears new claims about Denis O'Brien's dealings with IBRC | BreakingNews.ie

Related to the injunction granted against the Sunday Times a couple of years ago perhaps?
O

[video=youtube;mNYGgKO7c6Q]https://www.youtube.com/watch?v=mNYGgKO7c6Q[/video]

Also, she mentions being attacked by powerful interests and Micheál Martin "rescuing" her during one media interview. She also mentions a very ominous approach by a reporter who she believes his sole interest was discovering her sources.

My God, she also says that the AIB Group Chief Credit Officer at the time the loan was advanced, went on to leave AIB to serve on the board of Siteserv, Topaz and the Beacon Clinic all owned by Denis O'Brien.
 
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asset test

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I know you mean well posting this for our information.

But quite honestly, and depressingly, so what? It is only one story amongst so many where similar things happened here.

It may garner some traction, but I doubt it. O'B is not for investigation. Ever. We have seen this already with his threats to the Dail. What happened? Nothing.

When I see developers who owed massive amounts reasserting themselves today in the same kind of business I just put on the blinkers. To do otherwise would kill me from anger.
 

ger12

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ruserious

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I wonder who is really behind the allegations and spoon feeding Murphy.
 

tigerben

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Rules don't apply to the golden circle in Ireland. It's been said many many many times.

If you owe a bank thousands, you have a problem; owe a bank millions, the bank has a problem”
And another similar one


“The old saying holds. Owe your banker £1000 and you are at his mercy; owe him £1 million and the position is reversed.”
 

cyberianpan

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There was a serious attempt to straighten things out

Literally dozens of junior wanabee Dark Lords sprung up and frustrated it - people in the media, civil service, politics and private sector - they did so without being asked, nor did they even have to co ordinate

If Denis O'Brien was run over by a hippopotamus in the morning, and Enda Kenny eaten by a shark - the problems would remain

As happens, the IBRC underlying issues are of less significance than Tribunal ones...but the response was horrifying

In preparation for the Fall of Kenny, the dark lords are stacking the deck - Fianna Fáil's partnership arrangements and resultant overpay (bungs) to the civil servants have proved a brilliant investment.

cyp
 

Boy M5

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I do think that Denis O'Brien is the outstanding Irish person of our epoch.
I know because I read it in all the free copies of the Irish & Sunday Indolent that are left in hotels.

He is like Brendan the Navigator discovering new worlds to the West.
He is like Padráig Pearse outside the GPO (in Valetta)
He is like William Martin Murphy an outstandingly successful businessman (who also owned the Indo & of course history treated well - as Denis will surely be).
He is a humanitarian of gargantuan proportions - he employs Ballsy O' Connor & Owen Harris despite their questioning of him. He kept them in his employ (I don't know if they are still critical of him as theirs are the first faces on the faeces (the Indolent Group uses oh so soft & absorbent paper).
 

Jack Walsh

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IBRC are owed hundreds of millions from someone who (if all info quoted in Dail is accurate) is behind in his capital repayments on those loans.
Yet IBRC accept a personal guarantee from this man on another man's loans.
If this were a profitable well run bank this would be shocking, the fact that this is tax payer funded to the tune of 35 billion bank makes it jaw dropping.

Woodhouse's name is cropping up in these deals with far too much regularity and for this observer at least, his apparent very close relationship with O'Brien needs very close scrutiny.

Another relevant point
What security did O'Brien offer with the personal guarantee for Mc Killen's loans?
Digicel paper???

What security has IBRC on his own massive loans?
Digicel paper?
 

Jack Walsh

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and it gets better as confirmed he is in to AIB for serious twine

Dáil hears new claims about Denis O'Brien's dealings with bank | BreakingNews.ie

As suspected by me and others on many threads AIB has been confirmed as the backer of O'Brien's loans to buy Sitserv and the guy who signed it off at AIB goes on to the board at Sitserv, Topaz and Beacon.
What else has AIB loaned to O'Brien?

So a bank that we own advancing massive sums to O'Brien when he is already hundreds of millions in debt to another state IBRC and if Catherine Murphy is to be believed is behind in his repayments there.

And again I ask, what security have these two State banks over these massive O'Brien loans?
Digicel paper?

Anything?

Surely two tax payer owned banks weren't allowed fall for a "It's Denis, he's minted, that's enough for us"
That could not happen, could it?

Finally can I yet again ask a very simple question
Why does a man who we are told has over €5 billion need to borrow such vast sums?
Why did he need to borrow the money for Sitserv at all?
It was only 45 million

If Lord Ross's son in law Nick Webb in the Sindo was to be believed then O'Brien carries that level of cash around for fun
 
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Boy M5

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IBRC are owed hundreds of millions from someone who (if all info quoted in Dail is accurate) is behind in his capital repayments on those loans.
Yet IBRC accept a personal guarantee from this man on another man's loans.
If this were a profitable well run bank this would be shocking, the fact that this is tax payer funded to the tune of 35 billion bank makes it jaw dropping.

Woodhouse's name is cropping up in these deals with far too much regularity and for this observer at least, his apparent very close relationship with O'Brien needs very close scrutiny.

Another relevant point
What security did O'Brien offer with the personal guarantee for Mc Killen's loans?
Digicel paper???

What security has IBRC on his own massive loans?
Digicel paper?
Qui Bono?
Why guarantee another man's debts?
You don't get to plutocracy by being so St Francis like.
What's in it for the multi faceted Denis?
Is it just a charitable deed he did for a fellow traveller on life's lonesome highway?

Clearly the pointy heads in NAMA have a deep understanding of the telecoms sector, so deep that they wrong footed those mere experts who raised a false canard & questioned Digicell's valuation & the apparent lack of sustainable cash flow generation.

We are blessed, truly blessed with such perspicacious public servants.
Not only will NAMA turn a profit, but it will be the Apple & Saudi Aramco of the Eastern Atlantic.
 

Boy M5

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RasherHash

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I know you mean well posting this for our information.

But quite honestly, and depressingly, so what? It is only one story amongst so many where similar things happened here.

It may garner some traction, but I doubt it. O'B is not for investigation. Ever. We have seen this already with his threats to the Dail. What happened? Nothing.

When I see developers who owed massive amounts reasserting themselves today in the same kind of business I just put on the blinkers. To do otherwise would kill me from anger.
There is an answer to this, people should vote for SF, and get rid of the tweedles for once and for all.

I understand peoples reluctance but it would solve that particular problem in one fell swoop.

Vote SF or stop moaning :)
 

Boy M5

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and it gets better as confirmed he is in to AIB for serious twine

Dáil hears new claims about Denis O'Brien's dealings with bank | BreakingNews.ie

As suspected by me and others on many threads AIB has been confirmed as the backer of O'Brien's loans to buy Sitserv and the guy who signed it off at AIB goes on to the board at Sitserv, Topaz and Beacon.
What else has AIB loaned to O'Brien?

So a bank that we own advancing massive sums to O'Brien when he is already hundreds of millions in debt to another state IBRC and if Catherine Murphy is to be believed is behind in his repayments there.

And again I ask, what security have these two State banks over these massive O'Brien loans?
Digicel paper?

Anything?

Surely two tax payer owned banks weren't allowed fall for a "It's Denis, he's minted, that's enough for us"
That could not happen, could it?

Finally can I yet again ask a very simple question
Why does a man who we are told has over €5 billion need to borrow such vast sums?
Why did he need to borrow the money for Sitserv at all?
It was only 45 million

If Lord Ross's son in law Nick Webb in the Sindo was to be believed then O'Brien carries that level of cash around for fun
Here's how Denis has fun, he likes to see happy people (shiny or otherwise)

 

bonkers

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and it gets better as confirmed he is in to AIB for serious twine

Dáil hears new claims about Denis O'Brien's dealings with bank | BreakingNews.ie

As suspected by me and others on many threads AIB has been confirmed as the backer of O'Brien's loans to buy Sitserv and the guy who signed it off at AIB goes on to the board at Sitserv, Topaz and Beacon.
What else has AIB loaned to O'Brien?

So a bank that we own advancing massive sums to O'Brien when he is already hundreds of millions in debt to another state IBRC and if Catherine Murphy is to be believed is behind in his repayments there.

And again I ask, what security have these two State banks over these massive O'Brien loans?
Digicel paper?

Anything?

Surely two tax payer owned banks weren't allowed fall for a "It's Denis, he's minted, that's enough for us"
That could not happen, could it?

Finally can I yet again ask a very simple question
Why does a man who we are told has over €5 billion need to borrow such vast sums?
Why did he need to borrow the money for Sitserv at all?
It was only 45 million

If Lord Ross's son in law Nick Webb in the Sindo was to be believed then O'Brien carries that level of cash around for fun
That bloody "bank", AIB, should've been let crash.
 

jmcc

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So a bank that we own advancing massive sums to O'Brien when he is already hundreds of millions in debt to another state IBRC and if Catherine Murphy is to be believed is behind in his repayments there.
Does look strange. But if he didn't get the loans would he still be in business? Just how much of Dinnycorp is unencumbered with debt?
 

Boy M5

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I hope we shouldn't be worried

 

GDPR

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It's like this, you don't spend your own money, you borrow other people's money so that the risk does not fall on you. You know you have it made when you can get away with it.
 

Don Wan

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It's like this, you don't spend your own money, you borrow other people's money so that the risk does not fall on you. You know you have it made when you can get away with it.
You are what you owe, not what you own.
 

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