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
Seán Fleming (Laois, Fianna Fail) | Oireachtas source
One hundred and seventy-five. We just want the public to be aware that the loss of the liquidation process will be met through the liquidation. The liquidator's first call on everything is his or her own fee. The total cost of the liquidation will be met 100% before any final dividend is paid to the State. The greater the cost, the less the dividend to the State. Now Mr. Carville is telling me that there are 175 cases pending that, depending on their outcomes, will incur a cost for the taxpayer in terms of the dividend the State receives and that the Department has two staff members plus one solicitor working on this matter.
No comments