Dáil Éireann Debate, Tuesday - 26 November 2013
150. Deputy Arthur Spring asked the Minister for Finance if mortgages previously held with Irish Nationwide, now with Irish Bank Resolution Corporation. will be refinanced by the borrowers; if the liquidator is in a position to negotiate settlements prior to the anticipated sale of the mortgage book; and if he will make a statement on the matter. [50156/13]
View answerI have been advised by the Special Liquidators that all Borrowers can re-finance their borrowings with other lending institutions however there will be no write down of the debt outstanding.
The Special Liquidators have corresponded with all IBRC borrowers providing them with an opportunity to make written representations on the method of disposal of their loans and the criteria for determining who may bid for loan assets. The decisions in relation to the disposal of all loans, following receipt of expert advice and consideration of the representations from IBRC borrowers have been made by the Special Liquidators.
