Oireachtas Joint and Select Committees

Wednesday, 26 February 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Sale of IBRC Mortgage Loan Book: Discussion

2:20 pm

Ms Ann Nolan:

We only got this information last night and I have not spoken to the Attorney General's office on whether there would still be an impediment in legal terms. I cannot give legal advice on that issue but it is unlikely, given that this process is now half-way or three quarters way through, that we would have legislation to go through in that period, even if we had it ready. The fact is there are legal complexities and this is not necessarily the only book that would be sold. We are looking at legislation, as the Minister said. The creditor position is obviously changed by the commitment.