Eamon Gilmore (Dún Laoghaire, Labour)
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Question 156: To ask the Minister for Finance if he will report on the ICCL compensation scheme for clients of a company (details supplied); the percentage of clients who have received compensation to date; if reports that about half of the firm's clients will receive no compensation are correct; and if he will make a statement on the matter. [39236/06]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The total number of claims received by the Investor Compensation Company Limited (ICCL) by clients of this firm was 2,626. Of these, 2,099 clients have received compensation, which represents 80% of the firm's clients. Claims for compensation were rejected in 273 cases, i.e. 10% of the overall total. A further 254 claims remain to be finalised. The reports that about half of the firm's clients will not receive any compensation are therefore not correct.

The remaining 254 claims which are still being examined are those cases where the Administrator has encountered difficulties in certifying claims as being valid. My Department has been advised by the ICCL that many of these outstanding claims are expected to be completed by February 2007 or so, but that it is likely that there will still be an amount, probably less than 100, of cases still being examined thereafter.