Tuesday, 26 February 2013

Questions (205)

Pearse Doherty

Question:

205. Deputy Pearse Doherty asked the Minister for Finance if he will outline the consideration given by him in the liquidation of Irish Bank Resolution Corporation to unsecured creditors taking legal action against IBRC and him, after assets in the form of promissory notes worth €27.7 billion at June 2012 were exchanged for bonds worth €25 billion, thereby wiping out IBRCs capital base. [9826/13]

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Written answers (Question to Finance)

The Department of Finance received both internal and external legal advice in relation to the liquidation of Irish Bank Resolution Corporation. The legal advice received covered a wide range of issues, however, it would not be appropriate to comment further on the specifics of the advices received, which advices are subject to legal professional privilege.