Seanad debates

Wednesday, 11 November 2009

National Asset Management Agency Bill 2009: Committee Stage (Resumed)

 

1:00 pm

Photo of Paddy BurkePaddy Burke (Fine Gael)

I raise a point I referred to on the Order of Business this morning on accountants working in Ernst & Young, which is carrying out work in the Irish Nationwide Building Society. Its charges are €3,000 a day for a senior accountant and €800 a day for a junior. As we have gone down the route of paying this type of fee in the tribunals, it is an issue the Minister must immediately take on board, not when the matter is over and done with. The winding up and amalgamation of financial institutions will happen. If we are not prepared to say what the fees will be at the very outset, we will end up with the same situation we have seen in the tribunals.

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