IBRC Operations

Tuesday, 28 April 2015

Questions (124)

Catherine Murphy

Question:

124. Deputy Catherine Murphy asked the Minister for Finance if he will elaborate specifically upon what his Department officials described as poor management which was displayed in a number of large transactions, as described in documents released to this Deputy under the Freedom of Information Act, concerning the sale of a company (details supplied) by Irish Bank Resolution Corporation; if his Department had any concerns regarding specific persons working in the corporation with regard to these poor decisions; if so, if he will state whom; and if he will make a statement on the matter. [16656/15]

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Written answers

Minister for Finance

I would like to draw the Deputy's attention towards the Department of Finance website where documents released under a recent FOI have been published at http://www.finance.gov.ie/news-centre/press-releases/ibrc-foi-documents. On page 7 of the document titled '8. Briefing ahead of 25 July meeting', there is a table containing six matters of concern at that time.

As reflected in the documents released under FOI, there were concerns regarding a number of transactions and decisions at the time. The aggregate of these concerns could fairly be described as a broader concern regarding effective corporate governance and effective communication with IBRC. It is well understood that the Department's engagement was primarily with IBRC's senior executives and Chairman. As a result, any concerns would have been raised with those individuals. However, it would be inappropriate to assume that concerns regarding governance and information sharing could be construed as concerns with individuals themselves.