Oireachtas Joint and Select Committees

Wednesday, 19 October 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Withdrawal from Irish Banking Market (Resumed): Engagement with Ulster Bank and KBC Ireland

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

My information is there is one case, if not more, where the legal firms representing the bank are dragging their heels and that money is due to be paid to clients arising from those cases or the contribution to legal fees. I would like to know before KBC leaves the country. I know it will pay and presume it will honour the court decision but I am worried about the time it is taking for the legal advisers to inform the bank to pay the customer. If it has reached that point and a decision has been made, it means the customer and bank have been through the courts for a lengthy period. Are there such cases? Can the witnesses check with their legal representatives to ensure they are clearing their desks in respect of this, the bank is being told in a timely fashion what has to be paid and is, in a timely fashion, paying customers? I will not raise the particular case but I understand there were a few cases like that. It had to do with properties in County Kerry.

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