Oireachtas Joint and Select Committees

Thursday, 22 June 2017

Public Accounts Committee

University College Cork and University of Limerick: Financial Statements

9:00 am

Mr. Michael Farrell:

That was a High Court action taken by a private individual who worked for a private company. The individual was not a public servant and was not in receipt of any public funds or any public payment or pension. Beyond that basic information, we cannot go too far because we are party to a confidentiality agreement in relation to that settlement. However, the payment that has been made has been long-standing. It was a prerequisite of UCC's governing body's approval of the acquisition that the legal case be settled. The university would not take on the IMI if there were any outstanding legal cases. That legal case was settled and the payment that continues to be made to the person concerned is from IMI revenue.

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