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

4:50 pm

Photo of Kieran O'DonnellKieran O'Donnell (Limerick City, Fine Gael)
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I thank Ms Nolan for the clarification. If the bids are allowed to proceed without a legal commitment in respect of the code of conduct and the Minister subsequently introduces legislation to require adherence to the code of conduct, could the bidders sue the liquidator of IBRC? The bidders have opted into the voluntary code of conduct and are aware that the Minister will introduce legislation on the code of conduct. On the grounds of certainty and the potential cost to taxpayers, should the liquidator not consider requiring bidders to comply with the code of conduct for mortgage holders?