Dáil Éireann Debate, Tuesday - 16 July 2013
205. Deputy Pearse Doherty asked the Minister for Finance if any bank in which the State has shares avails of the use of the public auctions auctioneering service provided by a company (details supplied) which specialises in bank repossessed and bank receivership properties. [34253/13]
View answerI can inform the Deputy that the banks in which the State has shares have provided me with the following information in relation to whether they avail of public auctions auctioneering service provided by the company whose details are supplied.
Permanent TSB - I am informed by Permanent TSB that it does not currently avail of the use of public auctions auctioneering service provided by the company whose details are supplied.
AIB - AIB has informed me that it uses sales agents to market its repossessed properties, and in certain instances appoints receivers. In these instances, both the sales agent and the receiver has an obligation to seek the best price for the asset being disposed of. On occasion, the sales agent will recommend, or the receiver will decide on public auction as offering the best route to sale, including auctions by the company whose details are supplied. In relation to repossessed properties AIB may also on occasion use public auction as a method for sale.
Bank of Ireland - I am informed by Bank of Ireland that it engages various external service providers where it is deemed necessary to support the business of the group. As a commercially quoted public company Bank of Ireland respects the commercial rights of any such parties and as such avoids commenting on whether or not such arrangements exist with specific suppliers or on the specifics of any such arrangements where they exist.
