Vol. 436 No. 1
37 Mr. Barry asked the Minister for Finance the amount owed to the Industrial Credit Corporation for loans and investments made through Fóir Teoranta; if he has satisfied himself with the rate of repayments; the amounts still outstanding; the number of firms involved; and if he will make a statement on the matter.
The amount, net of provisions, owed to ICC Bank in respect of loans and investments made by Fóir Teoranta stood at £8,742,000 on 30 September 1993. Under the terms of the Fóir Teoranta (Dissolution) Act, 1990 ICC Bank is responsible for the recovery of amounts due to Fóir Teoranta and for the transfer of any sums recovered to the Minister for Finance.
I am satisfied that ICC Bank is managing the Fóir Teoranta portfolio within the terms of reference, governing repayment arrangements and other relevant factors, given to the Bank when the portfolio was transferred to it.
The number of firms to which Fóir Teoranta advanced loans or in which it made investments, and which are still on the Fóir Teoranta books, is 108.
