Liam Twomey (Wexford, Fine Gael)
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Setanta Insurance Company Limited went into liquidation in April 2014. At the time of entering liquidation, the company had approximately 75,000 policyholders. Currently, just under 1,800 claims are still open. As part of the liquidation process, all policies were cancelled by the end of May 2014. The purpose of the meeting will be to update the committee since its previous engagement on this topic and, specifically, to review progress relating to claims and the liquidation process.

I welcome the liquidator of Setanta Insurance Company Limited, Mr. Paul Mercieca. Mr. Mercieca is based in Malta and I thank him for taking the time and trouble to travel to Ireland and his willingness to appear before the committee. Mr. Mercieca is accompanied by his colleague, Dr. Matthew Bianchi.

I welcome Mr. Sean Quigley, Accountant of the Courts of Justice. Mr. Quigley is joined by his colleague, Ms Denise Mullins. I also welcome Mr. Ronan Hession of the financial services division of the Department of Finance. Mr. Hession is accompanied by Mr. Antoine Mac Donncha.

The format will be as follows: Mr. Hession, Mr. Mercieca and Mr. Quigley will make their opening remarks. I ask them to be brief. A question and answer session will then allow matters to be clarified.

I remind members, witnesses and those in the gallery that all mobile phones must be switched off.

By virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. If, however, they are directed by it to cease giving evidence on a particular matter and continue to so do, they are entitled thereafter only to qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person or an entity by name or in such a way as to make him, her or it identifiable. Members are reminded of the long-standing ruling of the Chair to the effect that they should not comment on, criticise or make charges against a person outside the Houses or an official by name or in such a way as to make him or her identifiable.

I ask Mr. Hession to make his opening remarks.