IBRC Liquidation

Dáil Éireann Debate, Thursday - 21 February 2013

Thursday, 21 February 2013

Questions (90)

Gerry Adams

Question:

90. Deputy Gerry Adams asked the Minister for Finance the process for the appointment by the special liquidator of an independent valuer for IBRC as stipulated in the Irish Bank Resolution Corporation Act 2013; if he will confirm whether these independent valuers will also be allowed to act as independent brokers in the sale of these assets; if he will further confirm whether the independent values of IBRC assets' valuation shall be the fixed valuations upon which he accepts and that no other valuation will be applied by him; if he will confirm that the final discount on all the assets of IBRC overseen by the special liquidator will be on current market value and not long term economic value as was the case in the transfer of assets to the National Asset Management Agency; and if he will make a statement on the matter. [9512/13]

Written answers

Minister for Finance

I have been advised that the Special Liquidators are still in the process of devising and implementing a sales process in respect of IBRC’s assets. Following an independent valuation process, the Special Liquidators will sell the assets of IBRC (which are subject to the floating charge) to third parties at or above their independent valuation and failing that, the Special Liquidators will sell the assets to NAMA at their valuation price.