Luke Flanagan (Roscommon-South Leitrim, Independent) | Oireachtas source

In letters to the mortgagors of IBRC, the liquidators stated the special liquidators' objective of maximising sales realisations in the public interest under section 3(h) of the IBRC Act 2013. The liquidators refused to allow the mortgagors to bid for their loans. As far as I can see, the liquidators are acting illegally by excluding potential bidders. The normal answer we get is that it is impractical to deal with individual mortgage holders but I cannot understand it because this is untrue. How is it practical to set up these mortgages in the first place? It takes a lot more paperwork to set up a mortgage than to pay it off in one go. The liquidators have shown they can communicate with the mortgage holders because they wrote to them individually in August 2013 and looked for submissions.

As far as I can see, all that has to be done is to ask each mortgagee what he or she wishes to bid, to put the lot on a spread sheet and to tot it up to get the mortgagee bids. Will the liquidator act in the best interests of taxpayers and allow all interested bidders to bid or will it continue, as far as I can see, to act illegally by excluding interested bidders?