Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The case to which the Deputy referred is No. 010/2013, White v. the Central Bank of Ireland. IFSAT, which is responsible for processing the appeal, is independent in the exercise of its functions and it would not be proper for me to comment on a particular case. I understand, however, that the case is being processed and the written judgment will be available soon. The appeal has not been dropped. As the Deputy informed the House, the case pertains to the appointment of a special manager to Newbridge Credit Union.

On the other issue raised, it is Government policy to maintain a credit union presence in Newbridge. If we could have resolved the issue through the credit union movement, we would have done so. We tried every possible combination, including negotiations with Naas Credit Union which were made public. That would have been our preferred option, but it was only when the issue could not be resolved within the credit union movement that we asked Permanent TSB to get involved to avoid imminent liquidation and protect the savings of the deposit holders.

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