Tuesday, 25 June 2013

Questions (212)

Pearse Doherty


212. Deputy Pearse Doherty asked the Minister for Finance the average discount that is being offered on Irish Bank Resolution Corporation loans currently for sale. [30481/13]

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Written answers (Question to Finance)

There is an obligation on the Special Liquidators to ensure that maximum value is extracted from loan sales and they are currently devising a process to ensure they meet this obligation. The Special Liquidators are in the process of obtaining suitable independent professional advisors who shall employ standard valuation methodologies appropriate to each class of asset of IBRC. Following that independent valuation process, the Special Liquidators will sell the assets of IBRC (which are subject to the floating charge) in an open and transparent process at or above their independent valuation and failing that, the Special Liquidators will sell the assets to NAMA at their valuation price.

As the valuation and sales process is still being devised and implemented, the Deputy will appreciate that it is not possible to estimate what the outcome of the process will be at this time.