Oireachtas Joint and Select Committees

Wednesday, 26 February 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Sale of IBRC Mortgage Loan Book: Discussion

5:20 pm

Mr. Kieran Wallace:

I alluded to an issue in the United States recently whereby the difference in net terms of the liquidation was less than €500,000 but the judge saw an issue in what we were doing. At issue is a €1.8 billion par value book. I have no wish to make it seem unimportant but, from our perspective, whether it is €100 or €1 billion it remains the same principle in that we have not got best value.

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