Pearse Doherty
Ceist:96. Deputy Pearse Doherty asked the Minister for Finance the cost of the special liquidation of IBRC to date; and the estimated final cost. [20337/16]
Amharc ar fhreagraThursday, 7 July 2016
Ceisteanna (96)
Freagraí scríofa
The costs associated with the Special Liquidation from the 7th February 2013 to 31st December 2015 were €179,560,000 (net of rebates). Of this, €95,470,000 related to fees for work carried out by KPMG SL Team and KPMG migration, €32,501,000 to A & L Goodbody Solicitors and €18,969,000 to Linklaters Solicitors for legal work carried out. There were other professional advisors costs that amounted to €18,017,000 for this period and other legal advisors costs were €14,603,000.
The Special Liquidators agreed the following rebates which are included in the figures outlined above:
|
Special Liquidators |
€ |
|
KPMG |
€5,000,000 |
|
A & L Goodbody |
€2,706,000 |
|
Linklaters |
€261,000 |
|
Total rebates |
€7,967,000 |
A summary of the Special Liquidation fees to 31 December 2015 can be found on page 61 of the latest progress update report which can be found on the Department of Finance website: http://www.finance.gov.ie/sites/default/files/Progress%20update%20report_31%20Dec%202015_0.pdf.
I am advised by the Special Liquidators that it is not possible for them at this time to confirm or estimate the final cost of the liquidation as there remains a number of tasks in the liquidation to be completed including the on-going management of over 350 legal cases, the completion of the creditor adjudication process, the work with the Commission of Investigation, the management of the remaining loan book and the realisation of all remaining assets.