67. Deputy Catherine Murphy asked the Minister for Finance if his attention has been drawn to potential conflicts of interest, which existed at the time of the sale, by the former Irish Bank Resolution Corporation of an entity (details supplied); specifically if his attention has been drawn to the fact that agents contracted by the corporation to execute the sale also held significant interests in the entity being sold, that the legal advisers on the sale were acting for both the vendor and purchaser in the transaction, and that the reported agreed sale terms included a large payment to the board of the entity being sold and whose votes were obviously required to approve the sale; if so, his views that this presents an alarming set of circumstances to an entity tasked with protecting the taxpayers' interests; and if he will make a statement on the matter. [10704/15]

Summary

67. Deputy Catherine Murphy asked the Minister for Finance if his attention has been drawn to potential conflicts of interest, which existed at the time of the sale, by the former Irish Bank Resolution Corporation of an entity (details supplied); specifically if his attention has been drawn to the fact that agents contracted by the corporation to execute the sale also held significant interests in the entity being sold, that the legal advisers on the sale were acting for both the vendor and purchaser in the transaction, and that the reported agreed sale terms included a large payment to the board of the entity being sold and whose votes were obviously required to approve the sale; if so, his views that this presents an alarming set of circumstances to an entity tasked with protecting the taxpayers' interests; and if he will make a statement on the matter. [10704/15]

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Timeline

1. 11 March 2015

   IBRC Operations

   67. Deputy Catherine Murphy asked the Minister for Finance if his attention has been drawn to potential conflicts of interest, which existed at the time of the sale, by the former Irish Bank Resolution Corporation of an entity (details supplied); specifically if his attention has been drawn to the fact that agents contracted by the corporation to execute the sale also held significant interests in the entity being sold, that the legal advisers on the sale were acting for both the vendor and purchaser in the transaction, and that the reported agreed sale terms included a large payment to the board of the entity being sold and whose votes were obviously required to approve the sale; if so, his views that this presents an alarming set of circumstances to an entity tasked with protecting the taxpayers' interests; and if he will make a statement on the matter. [10704/15]

   Source: written

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• IBRC Operations

  xml · EN · 11 March 2015

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Sponsors

• Murphy, Catherine. · Asking member
• Finance · Finance · Addressed to

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