Oireachtas Joint and Select Committees
Thursday, 18 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source
Okay. As a follow on, there is a memo from the Department of Finance to Government dated 6 February 2013, regarding the IBRC liquidation and promissory note settlement, seeking a decision to set in motion the liquidation of IBRC. The direct cost of proposed liquidation is estimated by KPMG to be of the order of €30 million to €35 million. What process was there within the Department of Finance to verify this estimate and what steps were taken to ensure that KPMG's proposal was both reasonable and competitive?
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