Dáil Éireann Debate, Tuesday - 16 June 2020
139. Deputy Michael McGrath asked the Minister for Finance when the next drawdown is expected to take place to pay outstanding claims from the liquidation of a company (details supplied); and if he will make a statement on the matter. [11581/20]
View answerSetanta Insurance ("Setanta") was placed into liquidation by the Malta Financial Services Authority on 30 April 2014. As it was a Maltese incorporated company, the liquidation is being carried out under Maltese law.
As the Deputy is aware, neither I nor the Department of Finance have any role in the process including the making of applications to the High Court or payments.
Regarding when the next payments will be made, the Deputy will note that in accordance with the relevant legislation, there are certain steps to be completed in preparing any application to the High Court for payment from the ICF. These steps include the assessment and verification of each individual claim within the application by the State Claims Agency. There have been delays with these steps, including access to the Courts, over the past number of months due to the COVID-19 restrictions.
Officials in my Department have contacted the State Claims Agency who have confirmed that the date of the next High Court application relating to Setanta claims is 16 June 2020 and it is hoped that the payments can be made before the end of July 2020. It is understood the value of the next tranche of Setanta payments will be in the region of €8 million.
Finally any individual (or their solicitor) who has queries about their payment should contact the liquidator via phone at +353 (0)818 255 255 or via email at iesetanta@deloitte.ie.
