Banking Inquiry receives correspondence from former Anglo Irish Bank CEO David Drumm

14/07/2015

The Oireachtas Banking Inquiry has received a written statement from former Anglo Irish Bank Chief Executive David Drumm following directions issued to him by the Committee.

Mr Drumm has complied with the requests of the Committee to date and the statement is currently being legally reviewed before it can be accepted by the Committee.

Separately, the Banking Inquiry has agreed to report the failure of former Anglo Irish Bank Executive Tom Browne to comply with a direction of the Committee to An Garda Síochána.

Section 75 of the Houses of the Oireachtas (Inquiries, Privileges & Procedures) Act provides that failure to comply with a direction may amount to a criminal offence.

At its meeting today, the Committee noted the failure of the witness to comply with its direction and agreed to report this failure to comply to An Garda Siochana.

The Committee has also written to Mr Browne to inform him that it may proceed to make an application to Court under section 99 of the Act for an order requiring compliance with the direction.

The Committee has also agreed to withdraw directions issued to a number of former executives of Anglo Irish Bank to attend public hearings following intervention from the Director of Public Prosecutions.

Following a decision by the Committee on June 30th to maintain directions in relation to former Anglo Irish Bank executives Sean FitzPatrick, John Bowe and Pat Whelan, the executives then applied to the Director of Public Prosecutions for a declaration which, if given, would require the Committee to withdraw the directions concerned

Having considered the lines of inquiry on which the Committee has directed the witnesses to give evidence, the DPP has issued a declaration to the Committee to withdraw the directions. The DPP stated that it is also of the opinion that the directions issued could reasonably be expected to prejudice criminal proceedings that are pending.

Committee Chairman Ciaran Lynch TD said: “While we accept that there are criminal proceedings ongoing, it is with regret that we are required to withdraw these directions. The Committee has identified lines of inquiry and is resolutely following up on those lines of inquiry with witnesses and has been firm, robust but fair in asking the necessary questions and that is evident from the public meetings to date.

“Naturally, the Committee is disappointed that we have been instructed to withdraw directions in relation to a number of witnesses who were due to come before the inquiry. That said, we operate within the legal framework set down by the Dáil and Seanad and we are conscious of the need to be prudent in how the Committee conducts its business to ensure that the integrity of legal proceedings is protected and carried out separately from the Committee’s work.

“From the outset, the Committee has been aware that our inquiry is separate from and not replacing the work of the Courts. The Committee will continue its work to inquire into the reasons Ireland experienced a systemic banking crisis, including the political, economic, social, cultural, financial and behavioural factors and policies which impacted on or contributed to the crisis and the preventative reforms implemented in the wake of the crisis.”

Mr Lynch also said that the Committee will continue with other planned hearings as part of this module.

“Having complied with the DPP’s request the Committee will continue to proceed with the directions issued to other Anglo Irish Bank witnesses as part of this module.”

All media enquiries in relation to the Oireachtas Banking Inquiry should be addressed to:

Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2

P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551

All general enquiries should be directed to the Committee Secretariat.

e. contactbankinquiry@oireachtas.ie
t. +353 1 618 3651

Committee Membership

Deputies

Ciarán Lynch (Chairman)
Pearse Doherty
Joe Higgins
Michael McGrath
Eoghan Murphy
Kieran O’Donnell
John Paul Phelan

Senators

Sean D Barrett
Michael D’Arcy
Marc MacSharry
Susan O’Keeffe