Dáil Éireann Debate, Tuesday - 27 May 2014
111. Deputy Pearse Doherty asked the Minister for Finance his views on the announcement by a Delaware court on 13 May that the liquidators of the Irish Bank Resolution Corporation have to set aside millions of euro to cover a racketeering claim. [22532/14]
Amharc ar fhreagraI have been advised by the Special Liquidators that action in the US Bankruptcy Court by John Flynn to prevent the sale of IBRC loan assets has been unsuccessful, allowing the sales by the Special Liquidators to proceed to completion.
The Court has requested that the Special Liquidators set aside an amount of $36 million for a period of 60 days to allow the Flynn parties an opportunity to seek a stay on the order for recognition granted to the Special Liquidators by the US Courts pending an appeal. The Special Liquidators are happy to comply with the Court's request and Counsel for John Flynn confirmed that the amount set aside is not connected to the racketeering claim.
