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IBRC Mortgage Loan Book

Dáil Éireann Debate, Tuesday - 16 July 2013

Tuesday, 16 July 2013

Questions (246)

Pearse Doherty

Question:

246. Deputy Pearse Doherty asked the Minister for Finance the total number of firms which tendered to the special liquidator for the mandate to value the Irish Bank Resolution Corporation loan book; if PwC offered the lowest fees for the job or if there were other criteria which led it to win the valuation mandate; if he will detail such criteria; and if he will make a statement on the matter. [34645/13]

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Written answers

The Special Liquidators invited a number of firms (5) for the tender on tranche 1 and for tranche 2(14). The Special Liquidators have confirmed that PwC were not the lowest on fees. The criteria used were as follows, for which each respondent was graded:

- Process/ Execution methodology and ability

- Knowledge of the portfolio and recent relevant credentials

- Delivery team experience

- Fees.

The Special Liquidators have appointed UBS and PwC to value different segments of the IBRC loan portfolio.

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