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. Paul Mercieca:

These liquidations, particularly of this nature, tend to be complicated. As we have just discussed, there are many legal issues surrounding them so it is impossible to speculate on how long it will take. All I can do is repeat what I have said. To me, this is fundamental in resolving this issue. If this process takes too long, it will increase costs and make finance settlements more difficult. The resolution of this issue is fundamental to unlocking the claims position, as I have indicated. I cannot tell the Deputy how long that will take.