Dáil Éireann Debate, Tuesday - 16 April 2013
363. Deputy John McGuinness asked the Minister for Finance if the appointment of the special liquidator to Irish Bank Resolution Corporation was in strict accordance with procurement law; and if he will make a statement on the matter. [17684/13]
View answerDue to the urgency of the appointment of the special liquidators and for commercial and confidentiality reasons it was not possible to follow standard procurement rules in relation to this appointment. Therefore emergency procedures were followed and the special liquidators were appointed following a negotiated procedure. As the Deputy will appreciate it was of the utmost importance that the potential liquidation of IBRC was kept confidential due to the scale, sensitivity and complexity of the economic issues involved. However, I can assure the Deputy that the rates that which have been agreed with the Special Liquidators are commensurate with rates agreed following a tender process undertaken by the National Asset Management Agency in relation to similar types of insolvency services.
I can assure the Deputy that this Government will always work to ensure that best value is achieved for taxpayers.
