IBRC Liquidation

Dáil Éireann Debate, Tuesday - 30 April 2013

Tuesday, 30 April 2013

Questions (153)

Gerry Adams

Question:

153. Deputy Gerry Adams asked the Minister for Finance further to a meeting of the Committee of Public Accounts of 7 March 2013 (details supplied) if he will confirm whether the NAMA input into the valuation methodology extends to who will be appointed as independent valuer; if he will confirm whether their input into the valuation methodology will relate to the value that NAMA sees in the assets by winding them down or running them off over a longer period; and if he will make a statement on the matter. [19867/13]

Written answers

Minister for Finance

The Special Liquidators have responsibility for the appointment of independent valuers to value the assets of IBRC and NAMA have no input into that appointment process. For the purposes of this valuation, loan assets shall be valued using discounted cash flow analysis, taking into account the timing and reliability of cash flows, together with an appropriate discount factor to determine the value or, where appropriate, in accordance with other standard loan valuation methodologies. The specific loan valuation methodology to be applied will be agreed between the Special Liquidators and the independent professional valuer appointed subject to any instruction or directions that I may issue pursuant to the IBRC Act 2013. NAMA have been consulted by both my officials and the Special Liquidators in relation to this process but do not have a direct role in the development of the valuation methodology.