Oireachtas Joint and Select Committees

Wednesday, 1 April 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Setanta Insurance Liquidation: Discussion

2:00 pm

Mr. Ronan Hession:

The Deputy is asking me to go further than I can go in clarifying. Leaving aside Setanta Insurance, the MIBI is not subject to the same limits. It ordinarily pays for a third party and we do not know what its role will be. I am not sure if it is a case of winning or losing; it is a case of clarifying what the law states. It is a trial of law as opposed to people suing each other. As I am not a lawyer, I probably should not go beyond this. However, if the nub of the Deputy's question is that it does not involve a 65% cap, we will have to wait for the liquidation to take place.