Tuesday, 12 March 2013

Questions (178)

Pearse Doherty


178. Deputy Pearse Doherty asked the Minister for Finance if an auction model has been considered for the sale of the Irish Bank Resolution Corporation mortgage loan book; and if he will make a statement on the matter. [12632/13]

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Written answers (Question to Finance)

As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation price will be sold to NAMA at the independent valuation. The Special Liquidators are still in the process of devising and implementing a sales process in respect of IBRC’s assets including the mortgage portfolio. Once this is devised I am advised that the Special Liquidators will be appointing independent sales advisors to manage the sales process. This process will be overseen by the Special Liquidators to ensure that deadlines are being met and that the best value is achieved.