Oireachtas Joint and Select Committees

Thursday, 22 May 2025

Public Accounts Committee

National Paediatric Hospital Development Board and Children's Health Ireland: Discussion

2:00 am

Mr. David Gunning:

The Zurich bond from the Zurich financial organisation is for the full amount. It is an on-demand bond with a number of conditions. Before we accept that bond, we are given a chance to review and approve it, and there is a whole process around this. Regarding the State's liability in that regard, when the State hands over €107 million, we are absolutely confident in those circumstances that if something were to happen, we can go to the bondsman and get that money back.

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