Oireachtas Joint and Select Committees

Thursday, 8 May 2014

Public Accounts Committee

2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2012
Chapter 2 - Government Debt
Finance Accounts 2012

11:45 am

Mr. Des Carville:

The Deputy is absolutely right that confidentiality was maintained prior to liquidation. It was a very closed circle of knowledge and it is a credit to the people involved that confidentiality was maintained right until the ultimate announcement.

In regard to the costs, they are based on NAMA agreed rates with liquidators for services of this nature. In addition, we managed to negotiate an additional discount, based on the volume of work, both on the legal side and on the side of the special liquidators. However, I am not in a position today to give an actual quantum figure.