Tuesday, 19 February 2013

Ceisteanna (239)

Gerry Adams


239. Deputy Gerry Adams asked the Minister for Finance if he will detail the total euro nominal value of unguaranteed and unsecured senior and subordinated debt that was outstanding in the Irish Bank Resolution Corporation before its liquidation; and if he will make a statement on the matter. [8058/13]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

As the Deputy will be aware, on 7 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. At this early stage of the special liquidation the Special Liquidators are engaged in intensive processes which involve inter alia, asserting control over the businesses, processes, systems and personnel of IBRC. It is important that focus is placed on assessing, reorganising and restructuring the day–to-day activities of the Bank to meet the primary objective of ensuring the purpose of the special liquidation is achieved, as this is key to ensuring that maximum value is extracted from the liquidation. As such the Bank is not in a position to provide the information requested by the Deputy. I thank the Deputy for his understanding in what is a crucial phase in the liquidation.