Oireachtas Joint and Select Committees

Wednesday, 9 July 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Collapse of Setanta Insurance: Central Bank and Department of Finance

2:45 pm

Mr. Pat Casey:

That is a matter in the first instance for the liquidator, but our understanding is that the unresolved premiums and claims are preferred creditors under Maltese law over and above other liabilities. The liquidator still has quite some distance to go in trying to bottom out the net dividend that will be available for redistribution to those preferred creditors.