IBRC Loans

Dáil Éireann Debate, Wednesday - 7 May 2014

Wednesday, 7 May 2014

Questions (33, 34)

Stephen Donnelly

Question:

33. Deputy Stephen S. Donnelly asked the Minister for Finance following the conclusion of the recent trial of three former Anglo Irish Bank executives, if he will provide in tabular form the current status of each of the ten maple ten loans, specifically, the volume and value of loans 100% repaid to Anglo Irish Bank-Irish Bank Resolution Corporation; the volume and value of loans transferred to the National Asset Management Agency and subsequently 100% repaid; the volume and value of loans transferred to NAMA and sold by NAMA without 100% repayment; the approximate price obtained by NAMA; the volume and value of loans transferred to NAMA which remain unsettled and the amount outstanding; the volume and value of loans sold by the special liquidators of IBRC and the approximate price obtained; the volume and value of loans remaining at IBRC as part of the unsold €2 billion par value rump of loans; and in order to protect the privacy of the ten borrowers, if he will provide anonymised totals against each of the above categories. [20426/14]

Stephen Donnelly

Question:

34. Deputy Stephen S. Donnelly asked the Minister for Finance following the conclusion of the recent trial of three former Anglo Irish Bank executives if, from the point of view of the borrower, the loan facility terms of any of the maple ten loans were changed from 25% recourse to zero recourse, where the term 25% recourse means the borrower is personally liable to the lender for 25% of the sum borrowed in addition to being liable to offer up the entire asset purchased with the loan and where the term zero recourse means the maximum liability of the borrower to the lender is the entire asset purchased with the loan. [20427/14]

Written answers

Minister for Finance

I propose to take Questions Nos. 33 and 34 together.

I am advised by the Special Liquidators that they are not in a position to comment on individual cases and that the information requested is confidential and it would not be appropriate for the Special Liquidators to release such information.  I understand that a number of the loans concerned were transferred to NAMA by Anglo Irish Bank. I understand that under Section 202 of the NAMA Act the details of those loans cannot be disclosed as the debtors concerned are entitled to have this information kept confidential.