Paul Coghlan (Fine Gael) | Oireachtas source

I welcome Mr. Dukes and the team from IBRC. It was good to hear their report. We are aware of the high profile litigation in England, but perhaps IBRC is only a witness in that. We understand that decision is to be appealed. In how many other cases is IBRC involved, if any? If there are other cases, how significant are they or how much of the remaining loan book is exposed?

With regard to the question raised by Deputy Stanley, I understand IBRC must function on an agency basis for NAMA, but how many of its staff are engaged full-time in managing loans on behalf of NAMA and how does NAMA recompense IBRC for them? Dealing with NAMA must be a huge part of the business of the IBRC and I assume large numbers are working in the IBRC on its behalf. Is NAMA involved and does it take the advice of the more senior people acting in that capacity on how to proceed with the number of receivers who have been appointed? I have in mind a case I believe is pretty hopeless. It seems as though NAMA is playing along - perhaps there are big salaries going to some of these people - but I see no prospect of a return at all. Obviously, every case is different and each must be taken on its own merits.