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

Photo of Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

Mr. Carville must understand that, from where we sit, there is a prima facielack of supervision compared with what we would have expected for something involving 175 cases, a liquidation of this scale and all costs being met before the taxpayers get their final dividend. The Department only has two WTE staff and maybe a solicitor working on it. Even if Mr. Carville tells me that one and a half solicitors are working on it, that does not change the complexion from where we sit. He is telling us that everything the Department is doing is to protect the interests of the State in this liquidation, but the staffing complement gives us zero confidence that those interests as they relate to cost are being adequately protected.

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