Dáil Éireann Debate, Thursday - 27 March 2014
43. Deputy Pearse Doherty asked the Minister for Finance if he will play any role in the selection of an independent person by the special liquidators of the Irish Bank Resolution Corporation tasked with deciding whether or not legal action should be taken against KPMG in relation to its role as auditor of Irish Nationwide Building Society between 2006 and 2009; and if he will make a statement on the matter. [14515/14]
View answer44. Deputy Pearse Doherty asked the Minister for Finance by what measurement the independence of the independent person selected by the special liquidators of the Irish Bank Resolution Corporation tasked with deciding whether or not legal action should be taken against KPMG in relation to its role as auditor of Irish Nationwide Building Society between 2006 and 2009 will be judged. [14516/14]
View answer45. Deputy Pearse Doherty asked the Minister for Finance if he will consider the appointment of conflict liquidators in relation to potential litigation against Irish Nationwide Building Society's auditors KPMG whereby the special liquidator could make an application to the court for the appointment of independent conflict liquidators to take charge of all matters relating to litigation with KPMG only. [14517/14]
View answer46. Deputy Pearse Doherty asked the Minister for Finance his views that a conflict of interest could exist in the liquidation of the Irish Bank Resolution Corporation which could necessitate the appointment of a conflict liquidator in view of the links between the special liquidators and KPMG; and if he will make a statement on the matter. [14518/14]
View answerI propose to take Questions Nos. 43 to 46, inclusive, together.
I have been advised that the Special Liquidators are still in the process of putting in place a robust mechanism for managing any potential conflicts of interest that may arise in relation to these proceedings. The Special Liquidators are fully aware of the urgency of the matters and are working hard to put in place an independent person to deal with this issue.
The primary duty of the Special Liquidators is to the creditors of IBRC and not to KPMG and I expect that the mechanism to be proposed by the Special Liquidators will comprehensively deal with any conflicts that may arise. I do not expect that it will be necessary for me to intervene in this matter.
As these are matters that are currently before the Courts, I am not in a position to comment any further on it.
