Dáil Éireann Debate, Thursday - 11 December 2014
66. Deputy Stephen S. Donnelly asked the Minister for Finance the number of companies which had Irish Bank Resolution Corporation loans that were sold by KPMG to third parties, have since been put into liquidation where the liquidator was KPMG; his views on the potential conflict of interest in such cases; and if he will make a statement on the matter. [47540/14]
View answerKieran Wallace and Eamonn Richardson are independent in their duties as Special Liquidators of IBRC and have a statutory responsibility to act in the interests of all the creditors of IBRC including the State. I am advised by the Special Liquidators that there are 7 instances where KPMG have been appointed as receiver over assets connected to loans disposed by IBRC. All insolvency appointments are in the name of the individual liquidator and individuals other than Kieran Wallace or Eamonn Richardson have been appointed in each of these 7 instances. The Special Liquidators are satisfied that no conflicts arise as a result of these appointments as these appointments are taken by other individuals in KPMG.
