Tuesday, 26 February 2013

Questions (193)

Pearse Doherty

Question:

193. Deputy Pearse Doherty asked the Minister for Finance in relation to Irish Bank Resolution Corporation, the way the special liquidator will ensure all loan sales are conducted in an open and transparent fashion so that potential buyers will be able to obtain adequate information and have sufficient time to assemble financing and in general, the way the special liquidator will ensure that the sales price obtained represents the optimum value for the taxpayer. [9751/13]

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Written answers (Question to Finance)

There 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 all its creditors including the State. I am advised that the special liquidators are still in the process of devising and implementing a sales process in respect of IBRC’s assets and are therefore not in a position to comment in detail at this time. However, it should be noted that there is an obligation on the special liquidators to ensure that assets of IBRC are sold at a price that is equal to or in excess of the independent valuations that are to be obtained and that this will be done in an open and transparent manner.

Question No. 194 answered with Question No. 182.