169. Deputy Pearse Doherty asked the Minister for Finance further to a report in a Sunday newspaper on 21 April 2013 regarding the special liquidation of Irish Bank Resolution Corporation which claimed to quote a Department spokesperson telling the newspaper, if the value of the assets sold is not sufficient to compensate the National Asset Management Agency for the bonds it has issued, he will be required to reimburse NAMA for the shortfall, it will hit the national accounts, surplus-shortfall, it is not accounted for off balance, if he will confirm if this is correct; if so, if he will explain the apparent inconsistency with the response given by him to Parliamentary Questions Nos. 275 to 278, inclusive, of 16 April 2013 when he stated through the liquidation process, the proceeds from the disposal of IBRC's assets will be used to repay creditors in accordance with normal Companies Acts priorities and, consequently, preferred creditors will be paid first and then debt purchased by NAMA from the Central Bank will be paid; and if he will confirm if NAMA will bear any loss on its issuance of bonds and, if not, how any shortfall will be addressed. [20019/13]

Summary

169. Deputy Pearse Doherty asked the Minister for Finance further to a report in a Sunday newspaper on 21 April 2013 regarding the special liquidation of Irish Bank Resolution Corporation which claimed to quote a Department spokesperson telling the newspaper, if the value of the assets sold is not sufficient to compensate the National Asset Management Agency for the bonds it has issued, he will be required to reimburse NAMA for the shortfall, it will hit the national accounts, surplus-shortfall, it is not accounted for off balance, if he will confirm if this is correct; if so, if he will explain the apparent inconsistency with the response given by him to Parliamentary Questions Nos. 275 to 278, inclusive, of 16 April 2013 when he stated through the liquidation process, the proceeds from the disposal of IBRC's assets will be used to repay creditors in accordance with normal Companies Acts priorities and, consequently, preferred creditors will be paid first and then debt purchased by NAMA from the Central Bank will be paid; and if he will confirm if NAMA will bear any loss on its issuance of bonds and, if not, how any shortfall will be addressed. [20019/13]

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• IBRC Liquidation

  xml · EN · 30 April 2013

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