Peter Mathews (Dublin South, Fine Gael)
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Question 60: To ask the Minister for Finance his views on a matter (details supplied) regarding money owed to Anglo Irish Bank; and if he will make a statement on the matter. [22916/11]

Michael Noonan (Limerick City, Fine Gael)
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Anglo Irish Bank has filed proofs of claim in the US on 14 February 2011, which are a matter of public record, showing a debt owed to the bank by the person, to which the Parliamentary Question refers, of €8,454,779.27. As the Deputy is aware the individual filed for US bankruptcy on 14 October 2010 and since that time the bank has been engaged and participating in the US bankruptcy process as creditor. The jurisdiction of the US Bankruptcy Court in respect of the individual's bankruptcy estate has been recognized by the Irish Bankruptcy Court. The appointed US Bankruptcy Trustee's mandate is to realise the maximum assets of the estate and distribute to creditors, as appropriate.

The US Bankruptcy Trustee has lodged an objection to the discharge of the individual from bankruptcy seeking to bar him entirely. The bank has also lodged such an application and in addition an application to bar his discharge in respect of the bank's claims against the estate. The bank is advised that in the ordinary course there would be a trial in respect of the objections lodged subject to any directions by the US bankruptcy judge. Under the US bankruptcy code, where an objection to discharge is successful the debtor is denied the protection of the US bankruptcy court.

The bank's stated objective is to obtain maximum recovery in the interests of the taxpayer.