Oireachtas Joint and Select Committees

Tuesday, 4 April 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Sector: Quarterly Engagement with Central Bank of Ireland

10:00 am

Professor Philip Lane:

The way that is managed is that no rights are lost by receiving that cheque. We are going through the files and where we see a scheme which we do not think is taking into account all of the relevant householders or we do not like the scheme, we challenge it. On top of that, even if the affected person does not like the figure with which we may have ultimately also agreed, there is an appeals process where there is support to launch that appeal within the framework. There is also the ombudsman and the courts. There are many layers but the fundamental point is that persons who receive a cheque should not be concerned that it somehow compromises the individual's options.