Banking Inquiry to consider calling Denis O’Brien as witness

The Banking Inquiry will discuss a suggestion on Tuesday that businessman Denis O’Brien be called as a witness before the summer recess.

The idea came from Fianna Fáil finance spokesman Michael McGrath who wrote earlier this week to the chairman, Ciarán Lynch, contending that Mr O'Brien should appear as a witness.

Mr McGrath confirmed to The Irish Times that he had made the request. All other members of the committee have been furnished with the correspondence, in which the Cork South Central TD outlines why Mr O’Brien should be called.

“As a large commercial borrower from the Irish banks who has publicly expressed views about the manner in which borrowers were dealt with Denis O’Brien may be in a position to give valuable evidence to the banking inquiry,” he told RTÉ.

Mr McGrath also referred to Mr O'Brien's experience as a former deputy governor of the Bank of Ireland, as well as his extensive media interests in Ireland. He argued the businessman would be in a position to make an important contribution on several aspects of the terms of reference being examined.

“The committee is due to hear from a number of property developers but it is important that other commercial borrowers are also heard,” he said.

The Committee was due to discuss the matter last Tuesday but it has been deferred until this Tuesday, when it is in private session.

One difficulty is that Mr O'Brien is likely to be called to give evidence in private to the Commission of Investigation into Irish Bank Resolution Corporation.

A section of the 2004 Act (11.3) which established Commissions of Investigation prevents the disclosure of any evidence given, or documentation presented, in private sessions of the investigation. It is that restriction that Taoiseach and Enda Kenny and other key witnesses relied upon when refusing to discuss whether or not they were called back to give evidence to the Fennelly Commission.

It is for that reason that Mr McGrath asked colleagues on the Committee to consider an early appearance for Mr O’Brien. If he were to appear before the Banking Inquiry ahead of his engagement with the Commission of Investigations those statutory restrictions would not apply.

Mr O'Brien was one of the largest non-property clients and borrowers of the now defunct Anglo Irish Bank. Several of the bank's biggest developer customers are expected to give evidence to the Inquiry.

It is known that some other committee members do not share Mr McGrath’s view and are said to be struggling with the rationale behind the request.