Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the protocols and practices taken by the Irish Bank Resolution Corporation to ensure that assets disposed of by IBRC itself, or its borrowers under the auspices of IBRC, are disposed of in a manner which maximises the return to the taxpayer from the disposal. [57397/12]

Michael Noonan (Limerick City, Fine Gael)
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The overriding mandate of IBRC is to maximise the recovery of its loans on behalf of the State and by extension the taxpayer. I have been advised that the underlying approach of the Bank is to work constructively with each borrower on an individual basis to identify the most appropriate loan repayment plan. The strategies for loan recovery vary depending on the particular circumstances of the borrower. All credit related decisions are overseen by a multi-faceted governance structure established by the new Board of the Bank. Formal approvals for all credit decisions, including restructuring, extension of facilities, forbearance and disposal of assets are required from one or more of the Bank’s Asset Quality Forums, Group Credit Committee, Transaction Review Committee, Investment Committee, the Board Risk and Compliance Committee, the Board of Directors and in certain instances the Department of Finance. I have been informed by the Bank that a fundamental tenet of this governance structure is that no single business unit or person in IBRC can individually determine the treatment of any borrower or group of borrowers.