Dáil Éireann Debate, Tuesday - 17 May 2016
227. Deputy Michael McGrath asked the Minister for Finance to set out the status of the special liquidation of the Irish Bank Resolution Corporation, including when it will be complete and the return to the State, based on available information; and if he will make a statement on the matter. [10644/16]
View answerA third progress update report on the Special Liquidation of IBRC will be issued in the coming weeks providing a comprehensive review of the progress to date and the current status of the Special Liquidation. This report will be available on the Department of Finance website once it has been finalised.
While it is too early at this stage to advise on the likely timeframe for conclusion of the liquidation of IBRC, I can confirm that the liquidation of IBRC can only be concluded once all assets are realised, all creditor claims have been resolved (including those subject to litigation) and all surplus funds have been distributed to creditors. This process is ongoing.
It is not possible to provide an estimate of any potential return to the State at this time given the uncertainty over the outcome of major litigation issues and the finalisation of the adjudication of unsecured creditor claims. It is expected that a general update on this matter will be provided by the Special Liquidators as part of their progress update report.
