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Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Arthur Spring: ...area that should be cleared up. If they are servicing the loans in this country, they should be compelled to comply with Central Bank regulations. Ms Nolan said that it was not envisaged in the IBRC liquidation that mortgages would be sold on. Could she elaborate on that? I acknowledge that the special liquidators are trying to do the best thing by the taxpayer and get the best price...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)

Arthur Spring: My job is to protect the mortgage holders and employees of IBRC, Irish Nationwide, etc. The witnesses are special liquidators, not just ordinary liquidators. The fact that they have been appointed by the State means they also have to look after the citizens of the State. They are trying to get the best price, but there is more at play than that. Ms Nolan has alluded to the fact that in...

Topical Issue Debate: Redundancy Payments (14 Feb 2013)

Arthur Spring: ...this fight on another day. They have received lucrative payments. However, the people who put their shoulders to the wheel have an expectation that was signed up to by a State organisation, the IBRC. I refer to legal advice from William Fry which states that IBRC has been placed in liquidation by a ministerial order made under the Act, called a special liquidation order. Unlike other...

Topical Issue Debate: Redundancy Payments (14 Feb 2013)

Arthur Spring: ...right what a few people did wrong. The people who did wrong were senior management, directors and people who did not have a day-to-day job that was more relevant to the average industrial wage. IBRC employees have taken public abuse, have been held responsible publicly and have been vilified by many Members in the House without any comprehension or understanding of what it is like. They...