Brendan Ryan (Dublin North, Labour)
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Question 49: To ask the Minister for Finance the daily and weekly cost of employing Ernst and Young as special manager to a credit union (details supplied); and the total weekly billable hours per Ernst and Young employee working at the credit union; and if he will make a statement on the matter. [11780/12]

Michael Noonan (Limerick City, Fine Gael)
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The total fees to be paid to the Special Manager and his team at the credit union concerned will be subject to approval by the Court upon request by the Special Manager. The request would typically include sufficient information for the Court to determine if the fees are reasonable, and might include a work schedule, indicating tasks performed, hours worked, and staff levels. As this request has not been made to the Court at this point, the information requested by the Deputy is not finalised. The Deputy might note that the hourly rate of fee payable to the Special Manager was reduced from €423 to €375 following an application by the Central Bank of Ireland to the Court on 10th February 2012. The fees payable to his team were reduced on a pro-rate basis.