Oireachtas Joint and Select Committees

Thursday, 5 November 2020

Public Accounts Committee

2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund

11:30 am

Mr. Derek Moran:

We spoke about that with Deputy MacSharry. I should have my notes in front of me. We hope that it will be concluded over the next two years. I believe I mentioned a figure of €277 million for the total cost of fees in the liquidation stage. It could be in the region of €305 million to €315 million by the end. When this will end is not in the liquidator's control or ours, as there are still 40 legal cases outstanding. They are approximately split between 26 cases in which the liquidator is the defendant and 14 cases where the liquidator is the plaintiff. There is still money to come back to the State from the liquidation process. I will correct myself in due course if I am wrong, but we expect approximately €150 million to come back next year and a further €300 million or €400 million the year after.

Comments

No comments

Log in or join to post a public comment.