Dáil Éireann Debate, Wednesday - 22 February 2012
31 Deputy Peadar Tóibín asked the Minister for Finance if he or the National Treasury Management Agency were given notice of the retention agreement between Irish Bank Resolution Corporation, IBRC, and a company (details supplied) before an agreement has been signed; when he personally became aware of the retention agreement between the company and IBRC; and if he will make a statement on the matter. [9961/12]
View answerThe Deputy will be aware that under the Relationship Framework the Board of the bank is responsible for the day to day operations of the bank. Neither the Department nor the NTMA were given notice of the retention agreement before the agreement was signed. My officials were notified as part of the on-going communications with the bank. My officials sought assurances from the bank that no conflict of interest existed in relation to the appointment and these assurances were provided by the Chairman of the bank. I am satisfied, on the basis of information and assurances provided to my Department that proper procedures were followed and that no conflict exists. Again, I would ask the deputy if he has information to the contrary to please bring such information to my attention so that the matters can be investigated and resolved.
