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Confidence in Government: Motion (15 Feb 2017)

Mick Wallace: ...that has people from outside the country running it. The judge should be given powers to compel witnesses to attend, garner all necessary documents and override privilege, just as Mr. Justice Cregan has in the IBRC inquiry. There should be a limited period within which judicial reviews can be brought, as is the case in the Refugee Act, because the tribunal of inquiry will otherwise go on...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: ...like €30 billion worth of the loan notes that it had. In terms of assets the notes are down to about €1.5 billion so its work is nearly complete. I do not know how far up the road the IBRC is but I think it is fairly up the road as well.

Written Answers — Department of Finance: IBRC Operations (14 Feb 2017)

Michael McGrath: ...ask the Minister for Finance further to Parliamentary Question No. 193 of 7 February 2017, if he will provide details of the use of section 110 companies by the Irish Bank Resolution Corporation, IBRC, including the number of section 110 companies set up by IBRC; the purpose of setting up these companies; when they were set up; if third parties were involved in these companies; the tax...

Written Answers — Department of An Taoiseach: Commissions of Investigation (8 Feb 2017) See 1 other result from this answer

Brendan Howlin: 85. To ask the Taoiseach the status of the commission of investigation into IBRC. [6040/17]

Written Answers — Department of Finance: Tax Code (7 Feb 2017)

Michael Noonan: Having consulted with the eighteen bodies under the aegis of the Department of Finance, I have been advised that in addition to NAMA, the National Treasury Management Agency (NTMA) and IBRC (in Special Liquidation) are the only other bodies which have been using the section 110 tax structure. As controller and manager of the Ireland Strategic Investment Fund,...

Establishment of a Commission of Inquiry into the National Asset Management Agency: Statements (1 Feb 2017) See 3 other results from this debate

Mick Wallace: ..., but the problems in NAMA are sadly not unique to NAMA’s Northern Ireland loan portfolio. It is imperative that any commission adopts a modular approach, similar to the Irish Bank Resolution Corporation, IBRC, investigation. The allegations made by Enda Farrell, a former NAMA staff member, should be the second module. It seems NAMA may have internally investigated some of the...

Written Answers — Department of An Taoiseach: Commissions of Investigation (1 Feb 2017)

Enda Kenny: ...;2.63 million March 2007 Fennelly Commission of Investigation €3.03 million (to end December 2016) The timeframe for completion of the Commission's final report is by the end of March 2017. Cregan/IBRC Commission of Investigation €1.52 million (to end December 2016). Note: The IBRC Commission indicated in its Interim Report that significant third party costs have been...

Written Answers — Department of Finance: Departmental Staff Data (31 Jan 2017)

Michael Noonan: ...are employed through the NTMA. ** Posts in the Credit Review Office are seconded from Enterprise Ireland (who continue to keep them on their books). One of the posts (currently vacant) is at a clerical level. *** IBRC (in special liquidation) is not part of the civil service and the remaining staff in IBRC (in special liquidation) are not deemed to be civil servants.

Written Answers — Department of An Taoiseach: Departmental Investigations (18 Jan 2017)

Enda Kenny: ...Bank Resolution Corporation Commission which was established in June 2015. To the end of December 2016, the cost to the Exchequer of the Fennelly Commission was €3,019,100 while the cost of the IBRC Commission was €1,498,983. The IBRC Commission has also indicated in its Interim Report that significant third party costs have been incurred which are likely to arise for...

Written Answers — Department of Finance: NAMA Loans Sale (17 Jan 2017)

Michael Noonan: ...levels and dependence on international support at the time of the crisis, prohibited the State from directly investing in the distressed assets resulting from the crisis.  Exposure to the banks, IBRC and NAMA each became exposures of the taxpayer net liabilities - that had to be reduced for the State to regain financial stability. Interest from...

Written Answers — Department of Finance: NAMA Loans Sale (17 Jan 2017)

Michael Noonan: ...term sustainability while taking account of its wider societal objectives. Ireland's national debt levels and dependence on international support, prohibited the State from directly investing in the assets acquired by NAMA.  Exposure to the banks, IBRC and NAMA each became exposures of the taxpayer net liabilities - that had to be reduced for...

Written Answers — Department of Finance: Legal Costs (16 Dec 2016)

Michael McGrath: 123. To ask the Minister for Finance the amount of fees paid to barristers, senior and junior counsel, by IBRC since the appointment of the special liquidators; the name and amount paid to each recipient; the estimated total professional fees arising from the special liquidation; and if he will make a statement on the matter. [40646/16]

Written Answers — Department of Finance: IBRC Mortgage Loan Book (6 Dec 2016)

Pearse Doherty: 109. To ask the Minister for Finance the price at which each of the mortgage and commercial loan books at a bank (details supplied) were sold; and if he will make a statement on the matter. [38408/16]

Written Answers — Department of Finance: IBRC Liquidation (1 Dec 2016)

Michael McGrath: 147. To ask the Minister for Finance the amount of money he expects the State to receive from the liquidation of IBRC; the timeframe he expects the State will receive it and the use the proceeds will be put to; and if he will make a statement on the matter. [38181/16]

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016) See 1 other result from this debate

Stephen Donnelly: ...or been securitised or restructured, it is no longer possible to estimate what level of tax yield we are getting from it. We need to know that the €40 billion or so asset base that was sold by NAMA, IBRC, HBOS, Deutsche Bank and so on and is yielding approximately €3.5 billion in profits per year is being properly and fully taxed in this country.

Written Answers — Department of An Taoiseach: Commissions of Investigation (22 Nov 2016)

Enda Kenny: ...2004 in relation to two Commissions of Investigation that have been established since 2012, the Fennelly Commission which was established in April 2014 and the Irish Bank Resolution Corporation (IBRC) Commission which was established in June 2015. Details of the costs incurred by the Commissions to the end of October 2016 are set out in the following table. Total Cost Rent Legal...

Written Answers — Department of Finance: Departmental Properties (22 Nov 2016)

Michael Noonan: ...for the OPW is better placed to advise you on the details of properties managed by that Office. In respect of the bodies under the aegis of my Department I have been advised that: 1. IBRC (in Special Liquidation) owns a licensed premises in Temple Bar. This was historically in the ownership of Anglo Irish Bank and the Special Liquidators have advised that it will be placed on the...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Murphy: ...with Mr. Corrigan. He was in a unique position in that he was a member of the board of NAMA but he was also in the National Treasury Management Agency, NTMA. The year 2013 was important in that IBRC was liquidated and instead of a €3 billion payment annually, or a little more in some cases, it was elongated. In terms of the European Central Bank, ECB, and the pressure that we...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (15 Nov 2016)

Stephen Donnelly: ...or a lowball figure. The vulture funds control assets for which they paid about €40 billion. We have the detail on that. For example, NAMA by the end of this year will have sold about €30 billion. If IBRC, Deutsche Bank, RBS, HBOS, etc., are added on top of that, €40 billion is a conservative figure. Let us call the assets of the companies about which we are...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016) See 4 other results from this debate

Catherine Murphy: Two entities were involved in working out distressed assets. IBRC was one and NAMA was the other. We have been constantly reassured by the Minister in the Dáil any time oversight of NAMA was raised that the Comptroller and Auditor General had a big team in it. I found it quite useful to hear about the practical work the Office of the Comptroller and Auditor General does in NAMA. It...