Dáil Éireann Debate, Thursday - 29 June 2017
100. Deputy Michael McGrath asked the Minister for Finance when he expects the liquidator of a company (details supplied) to complete its report on the estimate of the proportion of claims expected to be covered by the liquidation of the company; and if he will make a statement on the matter. [30699/17]
Amharc ar fhreagraI am advised by the Liquidator of Setanta that the actuarial report the Deputy is referring to is in the process of being commissioned. Consequently, the Liquidator does not currently have a timeline for its completion but he anticipates that he should have a clearer picture on this matter shortly.
This actuarial report will update the 2014 report carried out by Towers Watson which indicated that the Liquidator would not be in a position to meet more than 30% of claims out of the assets of the liquidation.
Notwithstanding the above, the Deputy should note that progress is being made on the payment of outstanding claims to Setanta policyholders. There are currently 324 claims - which have been validated by the State Claims Agency - ready for settlement and listed for inclusion in the next application for payment from the Insurance Compensation Fund. We are awaiting a High Court date for this application.
