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

2:50 pm

Mr. Kieran Wallace:

I want to be careful because this is before the courts at the moment. I will say a few things on behalf of myself and Mr. Richardson. We took independent advice following our appointment as to whether there was any rationale in including KPMG in that litigation and the advice from the independent legal firm was "No". One of the directors has now joined KPMG in the litigation. In the coming days, Mr. Richardson and I will be announcing a very different approach in terms of how that litigation will be managed. From a perception viewpoint, we think it important that it is managed by parties other than us. We will be announcing something like that in the coming days.