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IBRC Liquidation

Dáil Éireann Debate, Tuesday - 21 May 2013

Tuesday, 21 May 2013

Questions (287)

Pearse Doherty

Question:

287. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question No. 63 of 9 May 2013, if the insolvency of Irish Bank Resolution Corporation is not considered a relevant insolvency within the meaning of the British Transfer of Undertakings (Protection of Employment) Regulations 2006 that this legal reality could negatively impact on IBRC asset values and thus potential IBRC asset sales before transfer to National Assets Management Agency; and if he will make a statement on the matter. [24324/13]

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Written answers

I have been advised by the Special Liquidators that legal advice is currently being sought whether the insolvency of IBRC is a relevant insolvency within the meaning of the United Kingdom Transfer of Undertakings (Protection of Employment) Regulations 2006 and the effect of those Regulations will be dependent on that advice. The effect of the Regulations on asset values will be a matter for the potential purchasers of those assets.

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