IBRC Bonds

Tuesday, 21 January 2014

Questions (215)

Thomas P. Broughan

Question:

215. Deputy Thomas P. Broughan asked the Minister for Finance if the Department of the Environment, Community and Local Government has provided all required information to his Department on bonds held by local authorities with the Irish Bank Resolution Corporation; and if he will indicate the status of these bonds. [2588/14]

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Written answers

Minister for Finance

I am advised that the Department of the Environment, Community and Local Government are currently working with the relevant local authorities to ascertain the actual level of exposure that exists in relation to the development bonds previously entered into by IBRC in favour of the various County Councils or local authorities.

I am advised that once that exposure is quantified the local authorities will submit a claim to the Special Liquidators in respect of the bonds. This information will be provided directly to the Special Liquidators in order to allow them to register that claim on the liquidation of IBRC. No information is outstanding to the Department of Finance in relation to this as I do not have a role in this matter.