IBRC Investigations

Dáil Éireann Debate, Tuesday - 27 November 2012

Tuesday, 27 November 2012

Questions (220)

Pearse Doherty

Question:

220. Deputy Pearse Doherty asked the Minister for Finance further to a report in a national newspaper that the chief executive officer of the Irish Bank Resolution Corporation (details supplied) has stated in relation to a reported bid for assets under the control of Irish Bank Resolution Corporation, it is the bank's policy not to continue relations with organisations that attempt to apply pressure by threatening to make communications public; if he will confirm the number of organisations with which IBRC is not continuing relations as a result of this policy. [52444/12]

Written answers

Minister for Finance

I have been advised that IBRC adheres to a structured procurement process for the appointment of all its advisors. This procurement process is open, objective and transparent and is subject to the Bank’s governance processes including oversight through a regular reporting process by the main Board of the Bank. The Bank have a responsibility to make commercial decisions in the ordinary course of business and will not allow these decisions to be affected by undue influence. I have been informed that IBRC at all times seeks to maximise returns for the Irish taxpayer.