Dáil Éireann Debate, Thursday - 14 February 2013
129. Deputy Michael McGrath asked the Minister for Finance the total number of clients with loans outstanding to Irish Banking Resolution Corporation; the number of loans associated with these clients; the location by country of these loans; the gross value of the loans at origination; their current book value at IBRC; and if he will make a statement on the matter. [7896/13]
View answerAs the Deputy will be aware, on 7 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. At this early stage of the special liquidation Special Liquidators are engaged in intensive processes which involve inter alia, asserting control over the businesses, processes, systems and personnel of IBRC. It is important that focus is placed on assessing, reorganising and restructuring the day–to-day activities of the Bank to meet the primary objective of ensuring the purpose of the special liquidation is achieved, as this is key to ensuring that value is extracted from the liquidation.
The Bank/ Special Liquidator is therefore not in a position to provide further information as requested by the Deputy.
It should be noted however that detailed disclosures regarding IBRC’s loan books can be found in the Bank’s last published Annual Report & Accounts as at 31 December 2011 and the 2012 Interim Accounts. I thank the Deputy for his understanding in what is a crucial phase in the liquidation.
