Dáil Éireann Debate, Tuesday - 26 June 2018
96. Deputy Niall Collins asked the Minister for Finance the amount of fees invoiced and the amount paid to a person and-or a company (details supplied) since the commencement of the liquidation of IBRC; and if he will make a statement on the matter. [27986/18]
Amharc ar fhreagraUnder the Companies Act all costs, charges and expenses properly incurred in the winding up of a company, including the remuneration of the liquidator are payable out of the assets of the company. For the 59 months since the start of the liquidation in February 2013 to 31st December 2017, the net fees earned by the KPMG special liquidation team were €144.9m (gross fees of €149.9m minus a €5m rebate negotiated by the Department of Finance).
Full details in relation to the work conducted and fees paid are contained in the the fifth progress update report on the Special Liquidation of IBRC which was published on 31st May 2018 and is available on the Department of Finance website: https://www.finance.gov.ie/updates/ibrc-progress-update-report-year-ended-31-december-2017/
Contained in the report you will find details on costs and fees of the liquidation to date, information on the various workstreams which are ongoing and also an outline of the tasks which are remaining.
