Oireachtas Joint and Select Committees

Thursday, 5 September 2013

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Overview of Financial Sector: Discussion with Permanent TSB

11:10 am

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

There are 1,600 legal proceedings ongoing so far. It is fair enough that some of them are legacy proceedings going back over a number of years. However, the number of requests issued in the past two months for people to surrender their houses voluntarily after adjudicating on their financial statements is 1,200. That is based on fact and the bank cannot claim that is a legacy position. The bank has scrutinised these individuals' financial statements. It is likely that in the bank's view, those people have to vacate their properties. There is a heavy proposition of surrender. Obviously, if those people do not comply, the bank will go down the legal route because the bank has adjudicated they are not sustainable.

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