Results 1-20 of 88 for ibrc speaker:Paschal Donohoe

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Written Answers — Department of Finance: Banking Sector (13 Dec 2022)

Paschal Donohoe: The IBRC Ninth Progress Update report was published on 9 September 2022 and provides information on costs incurred in the special liquidation to date, with cost information also provided by workstream and by time period. I am advised by the Special Liquidators that they are precluded from providing the details sought in relation to individual assets, as this is commercially sensitive...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have advised me that Goodbody provided sales advisory services to Irish Bank Resolution Corporation Limited (In Special Liquidation) (“IBRC”) in relation to IBRC’s holding of NAMA subordinated bonds in 2014. They were not engaged in 2015 as all of IBRC’s holdings of the bonds were sold in 2014. I am advised by the Special Liquidators that...

Written Answers — Department of Finance: National Asset Management Agency (13 Dec 2022)

Paschal Donohoe: The Special Liquidators have informed me, as Minister for Finance, that the identity of the purchasers of IBRC’s holding of the NAMA subordinated bonds in 2014 is commercially sensitive and confidential.

Written Answers — Department of Finance: Banking Sector (8 Dec 2022)

Paschal Donohoe: ...bill that relates to the borrowing undertaken to re-capitalise the banks. That said, it is possible to identify borrowing undertaken specifically to deal with the re-capitalisation costs of IBRC. Most notably, €25bn of Floating Rate Notes (FRNs) were issued in February 2013 at the time of the liquidation of IBRC.  The FRNs pay interest every six months (June and December) based...

Written Answers — Department of Finance: Banking Sector (8 Dec 2022)

Paschal Donohoe: The total recapitalisation of the domestic banks amounted to €64.1bn, of which €34.7bn was invested in Anglo Irish Bank and INBS (IBRC) and €29.4bn in AIB, BOI and PTSB. To date, €21.1bn of the investment in the three remaining banks has been recovered in cash by way of disposals, investment income and liability guarantee fees (breakdown by year in tabular form...

Written Answers — Department of Finance: Civil Service (11 Oct 2022)

Paschal Donohoe: On 7 September, the Taoiseach published the Final Report of the Commission of Investigation (IBRC) on the transaction in relation to Siteserv and the principles and policies within IBRC on interest rates. This extensive report outlined the transaction, makes various adverse findings against individuals and made various recommendations. The Code of Standards and Behaviour for the Irish...

Written Answers — Department of Finance: Commissions of Investigation (22 Sep 2022)

Paschal Donohoe: On 7 September, the Taoiseach published the Final Report of the Commission of Investigation (IBRC) on the transaction in relation to Siteserv and the principles and policies within IBRC on interest rates. This extensive report outlined the transaction, makes various adverse findings against individuals and made various recommendations. I note that the Report refers to an individual who...

Written Answers — Department of Finance: Commissions of Investigation (15 Sep 2022)

Paschal Donohoe: ...security had been sold and the remaining balance had been deemed irrecoverable, unless that balance was written off in the books of the Bank in the Relevant Period, being 21 January 2009 (the date of the nationalisation of IBRC) and 7 February 2013. In its Second Interim Report (Section 2.17 et seq), the Commission confirmed that it had further engaged with the Special Liquidators and...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (15 Sep 2022)

Paschal Donohoe: I am advised that the Special Liquidators have commenced a review of the matters outlined in the PQ. However, these issues relate to a period when the Special Liquidators were not involved with IBRC and no corporate knowledge remains available to the Special Liquidators. As this task will require in-depth analysis of historical records, it will be necessary for the SLs to redirect resources...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (5 Apr 2022)

Paschal Donohoe: ...compiling this schedule however are not in a position to finalise this within the given timeframe. As a result, I will provide this information directly to the Deputy once it is received from the IBRC SLs.

Written Answers — Department of Finance: Irish Bank Resolution Corporation (5 Apr 2022)

Paschal Donohoe: ..., we understand this question seeks a schedule of the professional fees (if any) paid to real estate/property consultants relating to the disposal of property to date in the special liquidation of IBRC by: (i) the Minister; and (ii) the Special Liquidators. As Minister for Finance, I have not paid any fees to real estate /property consultants regarding the disposal of property assets...

Written Answers — Department of Finance: Ukrainian War (10 Mar 2022)

Paschal Donohoe: ...Stability Group has established a Working Group made up of officials from the three FSG organisations. This Group will focus on enhanced monitoring of the situation and provide regular updates to FSG members. I would also point out that IBRC (in Special Liquidation) has assets in both Russia and Ukraine. My officials are in regular contact with the Special Liquidators concerning these...

Written Answers — Department of Finance: Irish Bank Resolution Corporation (3 Mar 2022)

Paschal Donohoe: Please see below schedule of legal fees incurred by the Minister for Finance in respect of the liquidation of IBRC: Date Amount 2012 € 724,878.64 2013 € 417,760.88 2014 €  23,829.59 2020 € 151,737.63 Total ...

Written Answers — Department of Finance: Departmental Data (1 Mar 2022)

Paschal Donohoe: ...European Central Bank (ECB) – the Public Sector Purchase Programme (PSPP) and more recently the Pandemic Emergency Purchase Programme (PEPP)  – as well as the Floating Rate Bonds acquired by the CBI on the liquidation of IBRC in 2013. Eurosystem book value holdings of Irish government bonds under ‘Pandemic Emergency Purchase Programme’ (PEPP) and...

Written Answers — Department of Finance: Banking Sector (24 Feb 2022)

Paschal Donohoe: ...and this report is available on my department's website. This report highlighted the ongoing impact which COVID-19 was having on some of the key aspects to delivering a successful winding up of IBRC. In particular, COVID-19 impacted the asset realisation strategies of the Special Liquidators, as well as the timely conclusion of outstanding legal cases which were impacted by delays in court...

Written Answers — Department of Finance: Banking Sector (15 Feb 2022)

Paschal Donohoe: ...the Special Liquidators and KPMG and has received strong assurances that there will be full continuity of service from the Special Liquidators and from KPMG to complete the special liquidation of IBRC and to achieve the maximum return for the State. The Special Liquidators are expected to remain at KPMG until April 2023, and work has already commenced in making arrangements to ensure...

Written Answers — Department of Finance: Departmental Strategies (14 Jul 2021)

Paschal Donohoe: ...of the Public Service ICT Strategy 2015 where applicable. HBFI is committed to making information accessible to all and further details on its accessibility are outlined under ‘Legal’ on its website. While the Irish Bank Resolution Corporation (IBRC) is in the very advanced stages of wind down with no employees, the Special Liquidators have always been conscious to...

Written Answers — Department of Finance: Departmental Communications (25 Mar 2021)

Paschal Donohoe: ...Home Building Finance Ireland oireachtas@hbfi.ie Investor Compensation Company DAC pqs@centralbank.ie Irish Bank Resolution Corporation pqs@ibrc.ie Irish Financial Services Appeals Tribunal registrar@ifsat.ie Irish Fiscal Advisory Council ...

Written Answers — Department of Finance: Public Procurement Contracts (3 Mar 2021)

Paschal Donohoe: ...2019, 2020. Lilley Ventures t/a Workproducts Inc. Matterspace software eDiscovery tool licence renewal. The ongoing renewal of the software licence was critical in connection with the document searches required for the IBRC Commission of Investigation. 2019 - €8,736 (1/08/2019 to 1/08/2020) 2020 - €17,929 (07/10/2020 to 07/10/2022) Cumulative total...