Oireachtas Joint and Select Committees
Thursday, 5 May 2022
Public Accounts Committee
2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020
9:30 am
Mr. Des Carville:
The Deputy is referring to the €35 billion loan equity that went into Anglo Irish Bank and Irish Nationwide, which were merged into IBRC. What the liquidators have been doing since the liquidation commenced in 2013 is realising the assets. As the Secretary General said, we have €3.4 billion at par value of assets left to sell. We have disclosed there are 12 assets left to sell. There has been a delay to the timeline because these assets are primarily in the hospitality space and, with the advent of Covid two years ago, it is not the right time to sell hotel and pub assets. The decision was made to extend the timeline to try to realise the best possible return for the State.
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