Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister for his reply. When will we see all of that information, even in aggregate form? The instruction the Minister gave was that the assets would be sold by 31 December or as soon as practicable thereafter. I think those were the words he used in the instruction to the special liquidators.

When will the drawbridge come down on this? Is it at the end of the first quarter this year that the liquidator will either have sold on the assets or the transfer to NAMA will take place, and the overall financial performance of the liquidator can then be assessed? When will we see the information and what will we see? Can the Minister give any reassurance to IBRC mortgage holders who are not getting any write-off whatsoever from the special liquidator, unlike some of the larger IBRC debtors, which the Minister has confirmed? In contrast, mortgage holders face the possibility of losing key statutory protections if the loan book ends up with an entity that is not regulated in Ireland, given the consumer protection code and the code of conduct on mortgage arrears would no longer be available to protect them. That is an outcome we need to avoid at all costs.

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