Dáil Éireann Debate, Wednesday - 17 September 2014
272. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide an update on the financial position of the Irish Bank Resolution Corporation which has disposed of nearly €20 billion of par value loans in the past 12 months. [34253/14]
View answerThe latest available update on the financial position of IBRC is contained in the Progress Report prepared by the Special Liquidators in June of this year. On receipt of this report I immediately published it on the Department of Finance website. A copy of the June 2014 Progress Report on the Special Liquidation of IBRC can be found at the following link:
http://www.finance.gov.ie/news-centre/press-releases/progress-report-update-successful-special-liquidation-ibrc
Since that update, the Special Liquidators have been continuing with the sales process plan developed for the remaining loans in the bank. Sales processes for three portfolios are currently under way and are expected to be completed by the end of this year.
The next update on the financial position of IBRC will be available in early 2015. The Special Liquidators will be complying with their obligations and as such the liquidation accounts, which will detail the receipts and payments of the liquidation, will be filed in the CRO in February 2015.
