Pearse Doherty (Donegal South West, Sinn Fein)
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Question 116: To ask the Minister for Finance if he will set out the position of the credit institutions over which the State has total or majority control, towards persons declaring bankruptcy in other jurisdictions. [33151/12]

Michael Noonan (Limerick City, Fine Gael)
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AIB:

I am advised that the incidences of persons declaring bankruptcy in other jurisdictions are uncommon for AIB. Notwithstanding this, AIB considers each action on a case by case basis and will adopt an approach which best protects AIB's financial and legal position as it seeks to recover outstanding amounts owed regardless of the jurisdiction involved.

PTSB:

I am advised that PTSB also adopt an approach to best protect the Bank's right to seek repayment of all outstanding debt in a fair and equitable manner regardless of the jurisdiction involved.

IBRC:

I am advised by IBRC that the approach of the Bank is to work constructively with each borrower on an individual basis to identify the most appropriate loan repayment plan. IBRC takes a very serious view of borrowers seeking bankruptcy in other jurisdictions as a means of circumventing the repayment of monies owed to the Bank. Where necessary, and as has occurred previously, the Bank will pursue borrowers to ensure bankruptcy is declared in what it deems to be the correct jurisdiction, with the ultimate goal of maximising recovery of loans for the Bank.