IBRC Liquidation

Dáil Éireann Debate, Thursday - 9 May 2013

Thursday, 9 May 2013

Questions (62)

Pearse Doherty

Question:

62. Deputy Pearse Doherty asked the Minister for Finance if the total fees charged by KPMG for the liquidation of Irish Bank Resolution Corporation shall be published on an annual basis as they would be if it were a court liquidation; if he will confirm whether the breakdown of KPMG fees will be published, including the valuation fees awarded to PWC for the entire loan book minus the UBS mandated portion; if he will confirm if the National Assets Management Agency intends to hire their own independent valuer for the loans once the remaining loans are transferred to NAMA from IBRC; if he will confirm if the sale of the IBRC transferred assets to NAMA will have an EU/IMF deadline process for subsequent sale of the assets; and if he will make a statement on the matter. [21985/13]

Written answers

Minister for Finance

The Special Liquidators will comply with their reporting obligations and as such the liquidation accounts will be filed with the CRO after two years of the liquidation and yearly thereafter. I am advised by NAMA that, until there is clarity as to the type and volume of loans to be transferred to it by the Special Liquidators, it is not in a position to set out the approach that it may adopt.