Billy Timmins (Wicklow, Fine Gael) | Oireachtas source

I have a number of questions on five or six issues. I will put them first before taking an answer.

I thank the IBRC representatives for coming in today. Mr. Dukes mentioned in his written submission that the remit is to wind down over a period of ten years. Can this be brought forward? Would it be in the interests of the taxpayer and IBRC if this period could be brought forward? What is the minimum amount of time needed to bring the bank to closure? He also mentioned that IBRC is preparing the ex-INBS mortgage book for sale within a period of five years. Can this task be achieved?

One of the issues where there may be difficulty in going through IBRC's properties is in tracking down the title deeds. Would Mr. Dukes elaborate on that? Is this process completed? As opposed to other financial institutions, I understand that the former INBS and the former Anglo Irish Bank may have had several solicitors around the country certifying the deeds and they all might not have been sent into a central location. Where stands IBRC's work on this? Who is tasked with it? Is it done in-house or is it outsourced?

It was mentioned in the submission that IBRC conducted an audit of legal costs. How does IBRC operate? Does it generally stick with the big practices or does it farm the matter out to smaller legal entities?