Tuesday, 2 July 2013

Questions (109)

Pádraig MacLochlainn

Question:

109. Deputy Pádraig Mac Lochlainn asked the Minister for Finance further to reports of a case being taken in New York concerning the overcharging of interest on Anglo Irish Bank loans, if his attention has been drawn to the details of this case; the provisions that have been made by either the special liquidator at Irish Bank Resolution Corporation and or the National Asset Management Agency to deal with the potential ramifications including financial compensation of those overcharged interest; and if there is a possibility of loans being declared void, or the danger of loans becoming unsellable by the special liquidator as a result of this case. [31879/13]

View answer

Written answers (Question to Finance)

Unfortunately, I am not in a position to comment directly on cases currently in before the Courts. I have been advised by the Special Liquidators that in the Republic of Ireland any claims made in relation to the potential overcharging of interest would likely rank as unsecured creditors in the liquidation. I am further advised by the Special Liquidators that these allegations are not expected to have a significant impact on the sales of those loans by the Special Liquidator.