Banking Sector

Dáil Éireann Debate, Wednesday - 24 April 2013

Wednesday, 24 April 2013

Questions (69)

Pearse Doherty

Question:

69. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question No. 280 of 16 April 2013, if he will identify the independent advisors to Allied Irish bank and the AIB pension fund in the transaction whereby €1.2 billion of EBS mortgages were transferred from AIB to the AIB pension fund in August 2012; if the same company acted as independent advisor on both sides of the transaction; and if he will make a statement on the matter. [19349/13]

Written answers

Minister for Finance (Deputy Michael Noonan)

I have been informed by AIB that for commercial confidentiality reasons AIB does not publicly disclose the details of contracts with individual external service providers. However, the bank can confirm that for the purpose of asset valuation, separate advisors were used by AIB and the Trustees of the AIB Pension Fund.