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

2:40 pm

Mr. Kieran Wallace:

It is quite interesting. Not all of these individual loan sales have completed, and of the ones that have completed, there have been quite a number in which the borrower was not the successful party. The competitive tension in the bidding process has actually meant an additional return for the creditors, liquidation and, indeed, a different buyer in respect of those loans. It is not a foregone conclusion by any means.