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

9:00 am

Mr. Des Carville:

In profit and loss terms, I guess it almost the difference between a debit and a credit. The €280 million which we received last year is a receipt from the special liquidators to the State as an unsecured creditor. We are an unsecured creditor to about €1.1 billion or €1.2 billion. The special liquidators have stated they intend or that their expectation is that unsecured creditor claims which are validly accepted by the special liquidators should expect to receive between 75% and 100% of that claim in due course. This is subject to a whole raft of assumptions behind that.

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