Oireachtas Joint and Select Committees

Thursday, 5 November 2020

Public Accounts Committee

2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund

11:30 am

Mr. Derek Moran:

In every state aid case where we have to collect money where state aid is granted or accused of being granted, one holds that money in an escrow or in suspense or in a bank account, pending the outcome of the case. There was one case that ran for approximately 16 years with money going both in and out of the fund, albeit a much smaller scale, before it was finally settled and taken in. Deputy Carthy referred to the air travel case. We would have taken in moneys on suspense, as it were, covering the state aid, pending the outcome of the legal process. When that is completed the moneys come to the State in that instance.