Oireachtas Joint and Select Committees
Thursday, 20 April 2023
Public Accounts Committee
2020 Report of the Comptroller and Auditor General: Chapter 14 - Assessment and Collection of Insurance Compensation Fund Levies (Resumed)
Report on Administration and Movement of the Insurance Compensation Fund for the year ended 31 December 2021 (Resumed)
Comptroller and Auditor General Section 2 Report on Unauthorised release of funds from the Central Fund of the Exchequer (Resumed)
9:30 am
Mr. Michael McGrath:
Sorry, let me clarify that the €29 million was security of costs that was sought that the Supreme Court had adjudicated. In order for the case to proceed, the joint administrator had to put this money up as a security of cost in the eventuality of a case being lost or costs being found against them. That €29 million came back to the ICF. That is what I said at the outset.
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