Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Public Accounts Committee

2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation

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9:00 am

Mr. Des Carville:

Cash is fungible. In a normal liquidation, the company being liquidated has cash. As assets are sold, cash is generated and it is used to pay expenses.

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