Bank chiefs refuse to give details of Dunne loans

The banking inquiry did not get answers on why two of Ireland’s biggest banks gave open support and millions of euro within days for one of the best-known failed boom-time developments after witnesses said they were restricted from talking about the deal.

Bank of Ireland chief executive Richie Boucher and former Ulster Bank chief executive Cormac McCarthy both declined to comment in any detail on the money provided to Seán Dunne’s Jury’s Hotel project in Ballsbridge, Dublin, yesterday.

The €380m-plus purchase of the site in 2007 is widely seen as one of the most eye-catching development plans during the Celtic Tiger era. However, it has provoked significant debate since the crash after Mr Dunne was denied Bord Pleanála permission to redevelop the site.