Tuesday, 26 February 2013

Questions (192)

Pearse Doherty

Question:

192. Deputy Pearse Doherty asked the Minister for Finance in relation to Irish Bank Resolution Corporation, the way the special liquidator will obtain independent valuations of IBRC’s loans; when such valuations will be undertaken and completed; the identity of the party or parties undertaking the valuation; the methodology to be used and the cost of the independent valuations. [9750/13]

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Written answers (Question to Finance)

I am advised by IBRC that request for proposals ("RFPs") have now been sent out to potential advisors in respect of the first tranche of assets for valuation. Successful applicants will be appointed to provide independent valuations for each loan or connection in the portfolios. This loan valuation process is expected to commence in early March and be completed by late June. As advisors are yet to be identified/engaged for all portfolios the special liquidators are not in a position to comment on the methodology to be used by the advisors and the cost of the independent valuations.