Vol. 339 No. 4
asked the Minister for Finance the reason the Exchequer has only received £142,864 out of the proceeds of the liquidation of the Irish Trust Bank up to 31 March 1982, when the summary of the liquidator's accounts filed at the Companies Office show that £3,525,000 had been received from debtors and others up to 31 March 1981.
694.
asked the Minister for Finance if he has investigated the reason at least 75 per cent of the total collected from debtors and others by the Irish Trust Bank liquidator has not been returned to the Exchequer to reimburse the £2,863,984 advanced to pay depositors of the Bank after it ceased operations.
695.
asked the Minister for Finance whether the summary of liquidator's accounts in respect of the Irish Trust Bank has been filed for the year ended 31 March 1982 at the Companies Office; and if so, the total amount now due to the Exchequer as at 30 June 1982.
I propose to take Questions Nos. 693, 694 and 695 together.
I have no function in regard to the winding up of Irish Trust Bank Limited, which is being carried out in accordance with the Companies Act under the jurisdiction of the High Court.
The reimbursement of the Exchequer in respect of moneys, provided through the Central Bank, to secure the repayment of depositors in full is subject to the following:
(i) neither the Central Bank nor the Exchequer has any priority but rank as unsecured creditors in distributions of assets by the liquidator; (ii) by agreement any moneys received have been applied in the first instance towards recouping the Central Bank in full in respect of its direct outlay, any balance remaining being paid over to the Exchequer.
I am informed by the Central Bank that the liquidator, to date, has paid £1.5 million direct to depositors and other unsecured creditors and £1.2 million to the Central Bank. The amount due to the Exchequer is now £1,588,253.
I understand that the liquidator's statement of account in respect of the 12 months to 3 March 1982 has been filed at the Companies Office. The amount due to the Exchequer at 30 June was £1,693,265.
