Tuesday, 5 March 2013

Questions (184)

Finian McGrath


184. Deputy Finian McGrath asked the Minister for Finance the cost of having 200 KPMG consultants on site in the Irish Bank Resolution Corporation liquidation process; the reason the remaining staff are only receiving statutory redundancy; and if he will make a statement on the matter. [11689/13]

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Written answers (Question to Finance)

I am informed by the Special Liquidators that there are not 200 KPMG consultants on site. The presence of KPMG staff is to ensure the orderly wind up of IBRC and they are working closely with the staff retained by the liquidator in order to complete the liquidation process. As the Deputy is aware, the legislation surrounding liquidation ranks employees as preferential creditors in respect of certain amounts owing to them on a winding up, including accrued wages and salaries, holiday pay, sick pay, statutory redundancy, pensions contributions and claims for damages arising from accidents. There are standard rules which apply to the distribution of the assets of companies in liquidation and it would not be appropriate for me to interfere with these rules.