Dáil Éireann Debate, Monday - 11 September 2017
135. Deputy Marc MacSharry asked the Minister for Finance if his Department or its agents or the Comptroller and Auditor General has examined the procurement processes, accounting, controls and oversight of the costs of the special liquidators of the Irish Bank Resolution Corporation; the results of such examinations; the location in which they are published; and if he will make a statement on the matter. [37605/17]
View answerNeither the Department of Finance nor the Comptroller and Auditor General have any role in relation to examining the procurement processes of the Special Liquidators. The liquidation of IBRC is similar to any other liquidation with the exception that the Special Liquidators have been appointed by the Minister under the Irish Bank Resolution Corporation Act 2013 rather than appointed by the Courts. As such the Special Liquidators are obliged to follow normal Companies Acts priorities throughout the liquidation process and act in a manner that ensures the assets of IBRC are managed in a way which maximises the overall return for all its creditors including the State subject to the provisions of the Irish Bank Resolution Corporation Act 2013.
Notwithstanding this, the Department of Finance engages regularly with the Special Liquidators on the issue of costs as part of its regular engagement with the Special Liquidators. Page 45 of the most recent progress update report published by the Department sets out the various cost management activities undertaken by the Special Liquidators and the nature of the on-going interaction with the Department in this regard. A copy of that report can be accessed at: http://www.finance.gov.ie/wp-content/uploads/2017/05/170505-IBRC-Progress-update-report-report_31-Dec-16.pdf.
