Annual Report & Accounts 2009

Notes to the financial statements continued
55. Related party transactions continued
Other related party transactions
Anne Heraty, a former Non-executive Director, is also a Director of CPL Resources plc. During the period ended
31 December 2009, CPL Resources plc received €3,000 (year ended 30 September 2008: €78,000) in fees from the Group,
incurred in the normal course of business. In the ordinary course of business CPL Resources plc holds deposits with the Bank
which are on normal commercial terms.
Donal O'Connor, who was formerly the Senior Partner of PricewaterhouseCoopers ('PwC') in Ireland, was co-opted to the
Board as a Non-executive Director on 26 June 2008. PwC in Ireland received €284,000 in fees from the Group, incurred in the
normal course of business, during the year ended 30 September 2008 of which €50,000 was incurred in the period from
26 June to 30 September 2008. PwC was not considered a related party in the period to 31 December 2009 as Donal O'Connor
retired from PwC during the year ended 30 September 2008.
During the period ended 31 December 2009, close family members of the former Chairman received rental income from the
Group of €15,900 (year ended 30 September 2008: €31,500) in respect of a UK property that, rather than hotels, was used to
accommodate Group employees working in the UK on a temporary basis. The lease was terminated with effect from
31 March 2009.
If a right of reimbursement is established in relation to travel and accommodation benefits provided to close family members of
two former Directors in earlier periods such sums would be considered quasi-loans. Due to the nature and timing of these
benefits a degree of uncertainty exists as to the categorisation of these items for disclosure purposes. At 31 December 2009 the
Bank estimates, based on information available, that if a right of reimbursement is established the maximum amount of such
quasi-loans outstanding during the period was €45,093, made up as follows: in respect of Sean FitzPatrick, €31,192 (such
amount being the sum outstanding at all times during the period); in respect of David Drumm, €13,901 (such amount being the
sum outstanding at all times during the period).
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