64. Deputy Pearse Doherty asked the Minister for Finance if the instructions given to the independent professional valuers of PWC and UBS, pursuant to the Irish Bank Resolution Corporation Act 2013, by the Special Liquidator KPMG or indirectly by him is to achieve the most accurate independent valuation of the current market value or whether the instruction given is to ensure that the total valuation of the total loan book of IBRC achieves at least €12.928 billion; if he will confirm that it would be advantageous to the Exchequer’s finances for 2013 that the independent valuation of the total loan book of IBRC is at least €12.928 billion in order to avoid additional Exchequer cost to meet the shortfall between the independent valuation and the price to which either the private investor or National Asset Management Agency will pay for the cumulative total balance of the loan book; if he will confirm whether NAMA is concerned that his interests are not aligned with those of NAMA who could be forced to take on assets at a larger price than it is able to sell in the short or medium term thus prolonging the retention of the IBRC assets by NAMA in order to avoid him facing up to losses now rather than in the future if NAMA make a loss on these assets [21987/13]

Summary

64. Deputy Pearse Doherty asked the Minister for Finance if the instructions given to the independent professional valuers of PWC and UBS, pursuant to the Irish Bank Resolution Corporation Act 2013, by the Special Liquidator KPMG or indirectly by him is to achieve the most accurate independent valuation of the current market value or whether the instruction given is to ensure that the total valuation of the total loan book of IBRC achieves at least €12.928 billion; if he will confirm that it would be advantageous to the Exchequer’s finances for 2013 that the independent valuation of the total loan book of IBRC is at least €12.928 billion in order to avoid additional Exchequer cost to meet the shortfall between the independent valuation and the price to which either the private investor or National Asset Management Agency will pay for the cumulative total balance of the loan book; if he will confirm whether NAMA is concerned that his interests are not aligned with those of NAMA who could be forced to take on assets at a larger price than it is able to sell in the short or medium term thus prolonging the retention of the IBRC assets by NAMA in order to avoid him facing up to losses now rather than in the future if NAMA make a loss on these assets [21987/13]

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• IBRC Liquidation

  xml · EN · 9 May 2013

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