Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance the cost to the State annually of continuing to pay interest on the subordinated Anglo bonds held by Fir Tree Capital. [7154/13]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

As the Deputy will be aware, on 5 February 2013 the Oireachtas passed legislation (Irish Bank Resolution Corporation Act 2013), appointing joint Special Liquidators to IBRC with immediate effect to wind up its business and operations. At this early stage of the special liquidation Special Liquidators are engaged in intensive processes which involve inter alia, asserting control over the businesses, processes, systems and personnel of IBRC. It is important that focus is placed on assessing, reorganising and restructuring the day–to-day activities of the Bank to meet the primary objective of ensuring the purpose of the special liquidation is achieved, as this is key to ensuring that value is extracted from the liquidation.

As such the Bank is not in a position to provide the information requested by the Deputy.

I thank the Deputy for his understanding in what is a crucial phase in the liquidation.