Thursday, 17 April 2014

Questions (54)

Pearse Doherty


54. Deputy Pearse Doherty asked the Minister for Finance if at any time the special liquidator of the Irish Bank Resolution Corporation considered issuing proceedings against former director of INBS, Mr. Cornelius P. Power; and, if it did, but dropped these proceedings, the reason it considered that course and the reason for not pursuing it. [18258/14]

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Written answers (Question to Finance)

As the Deputy is aware Dr. Power had been a party to the proceedings against the former Directors of INBS. However, following further review and legal advice, it was decided by the then board of Irish Bank Resolution Corporation, in consultation with me, to discontinue the action against Dr Power. I am advised by the Special Liquidators that in light of that decision they have not re-visited this issue. As the proceedings in question are before the High Court it would not be appropriate for me to comment futher on this matter.