Oireachtas Joint and Select Committees

Thursday, 2 March 2023

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

Debt Write-down and Debt Resolution Policies: Allied Irish Banks

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael) | Oireachtas source

I will tell Mr. O'Keeffe about that on another occasion. I will not discuss it at committee. I raised another point regarding some of the total debt being discussed. There are situations where part of the assets have already been seized by the lending institution. In writing off a debt, the remainder of the debt is being written off because piecemeal resolution is not the way to go at all. It has to be full and final settlement from the word go. As Mr. O'Keeffe and I well know, you take what you can when it is given, and gradually take more and more until all the assets are taken. It is easy enough to write the debt off at that stage. Mr. O'Keeffe knows that.

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