Dáil Éireann Debate, Thursday - 14 December 2017
122. Deputy Michael McGrath asked the Minister for Finance the status of the special liquidation of IBRC; the details of the portfolio that is remaining; the estimated timeframe; the financial outturn from the liquidation; and if he will make a statement on the matter. [53787/17]
Amharc ar fhreagraThe Special Liquidators of IBRC published a progress update report on 5 May 2017 which provides the status of the liquidation as at 31 December 2016, this is available on the Department of Finance website at http://www.finance.gov.ie/wp-content/uploads/2017/05/170505-IBRC-Progress-update-report-report_31-Dec-16.pdf. A further progress update will be published in H12018 which will provide the status of the liquidation as at 31 December 2017.
The Special Liquidators have advised that there are approximately €3.5bn of loans remaining. The reason that these loans have not been sold is primarily due to ongoing litigation. It is not possible to provide a timeframe for the completion of the sale of these loans at this time due to the aforementioned litigation. The financial outturn from the liquidation will not be known until all legal proceedings have been finalised, all assets have been realised and all creditor claims have been adjudicated on.
