Dáil Éireann Debate, Wednesday - 20 February 2013
107. Deputy Pearse Doherty asked the Minister for Finance if the Special Liquidator of Irish Bank Resolution Corporation will entertain approaches and offers from individual mortgage borrowers to buy out their outstanding loans; and the range of discounts on offer by the special liquidator to potential buyers of mortgage lending. [9234/13]
View answerThere is an obligation on the Special Liquidators to ensure that the assets of IBRC are sold at a price which maximises the overall return for its creditors. As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation price will be sold to NAMA at the independent valuation. The Special Liquidators are still in the process of devising and implementing a sales process in respect of IBRC’s assets however it is unlikely that individual mortgage lots will be put up for sale as part of this process.
