Dáil Éireann Debate, Thursday - 14 December 2017
115. Deputy Michael McGrath asked the Minister for Finance the number and overall value of IBRC commercial loans sold by the special liquidator; the details of each transaction including the identity of the purchaser; the number and overall value of commercial loans held by IBRC; and if he will make a statement on the matter. [53780/17]
View answer116. Deputy Michael McGrath asked the Minister for Finance the number and overall value of IBRC SME commercial loans sold by the special liquidator; the details of each transaction including the identity of the purchaser; the number and overall value of SME commercial loans held by IBRC; and if he will make a statement on the matter. [53781/17]
View answerI propose to take Questions Nos. 115 and 116 together.
The information requested is not held within the Department. The Special Liquidators are in the process of compiling a response to this question which I will forward to the Deputy at the earliest opportunity.?
However, at a high level, as the Deputy is aware, for operational reasons the loan assets of IBRC were originally divided into six portfolios (and then split into two further portfolios): Evergreen, Rock, Salt, Sand/Pearl, Stone, Pebble, Quartz and Amber. All with the exception of project Sand/Pearl and project Evergreen were made up of, or had an element of commercial loans included in them.
I would draw the Deputy's attention to page 8 of the progress update report from June 2014 (http://www.finance.gov.ie/wp-content/uploads/2017/07/IBRC-Progress-Update-Report-6th-June-2014.pdf) which gives a good overview of what each portfolio was made up of at the start of the loan sales process. Pages 8 and pages 15 of the progress update report from March 2015
(http://www.finance.gov.ie/wp-content/uploads/2017/07/IBRC-Progress-Update-Report-6th-June-2014.pdf) gives a further update on this and the wave 2 sales process.
