Richard Bruton (Dublin North Central, Fine Gael)
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Question 169: To ask the Minister for Finance if he has requested a report from the board of Anglo Irish Bank into the alleged sale of a substantial property portfolio by the bank to a property company (details supplied) without a fair opportunity for others to bid, and on terms that leave the bank with considerable exposures; and if he will make a statement on the matter. [45445/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As the Deputy will be aware, Anglo Irish Bank is run on an arms length commercial basis. Consequently, decisions which relate to the normal business of the bank are a matter for the Board of Anglo, and the Board is responsible for making such decisions in the best commercial interests of the Bank.

The bank has advised me that the asset sale referred to by the Deputy is being considered in the best overall commercial interests of the bank, and that the process being followed in the transaction is appropriate to the structure of the bank's asset holding, which involves a number of parties. The bank has confirmed that its approach in considering the sale is in line with legal and regulatory requirements for such transactions.

As with all financial institutions, Anglo's dealings with its customers are subject to the normal provisions on client confidentiality, and it would therefore not be appropriate for me to comment in any greater detail on the client relationship referred to by the Deputy.