Tuesday, 5 March 2013

Questions (159)

Pearse Doherty


159. Deputy Pearse Doherty asked the Minister for Finance the valuation process to be undertaken in respect of Irish Bank Resolution Corporation's legacy loan book that will be offered for sale; if he will provide the par value and post provision book value of the IBRC loan book at 6 February 2013; and if he will provide an estimate of the time needed to value the IBRC loan book. [11341/13]

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Written answers (Question to Finance)

I am advised that the Special Liquidators are in the process of obtaining suitable independent professional advisers who shall employ standard valuation methodologies appropriate to each class of asset of IBRC. As previously stated, detailed information in relation to the Bank’s financial performance, including information on provisioning is published semi-annually in the Bank’s interim report and annual report and accounts. Additional information will not be published as it is commercially sensitive financial information which could potentially have a detrimental impact on asset recovery from the impending sale process. The Special Liquidators anticipate having the valuations of the loan books completed by the end of June 2013.