Dáil Éireann Debate, Tuesday - 27 November 2012
228. Deputy Pearse Doherty asked the Minister for Finance if he will provide a total of debt write-offs, that is, where a portion of an outstanding loan to a borrower including contractually charged or accrued interest is acknowledged by the bank as unrecoverable, at the Irish Bank Resolution Corporation in each of full-year 2011 and half year of 2012 ending 30 June 2012. [52456/12]
View answer229. Deputy Pearse Doherty asked the Minister for Finance if he will provide in a tabular form a schedule of debt write-offs at the Irish Bank Resolution Corporation in each of full-year 2011 and half year of 2012 ending 30 June 2012 showing the name of the borrower, the book value of the loan outstanding including contractually charged or accrued interest, the amount written off and the date on which the write-off was acknowledged. [52457/12]
View answerI propose to answer Questions Nos. 228 and 229 together.
I have been advised that it is not the Bank’s practice to disclose the specific information requested as it is commercially sensitive. It is however the Bank’s clear preference to work constructively with its borrowers on a case by case basis to maximise the recovery of loans. Any proposed restructuring of debt facilities in IBRC is subject to established governance processes and any agreed restructuring of borrowers obligations are designed to ensure the best outcome for the State.
