Ciarán Lynch (Cork South Central, Labour)
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To ask the Minister for Finance the status of investments by credit unions in the now defunct Irish Bank Resolution Corporation formerly Anglo Irish Bank; if deposits will be returned on schedule (details supplied); and if he will make a statement on the matter. [9305/13]

Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance if he will respond to a matter raised in correspondence in the context of the appointment of a Special Liquidator at Irish Bank Resolution Corporation (details supplied). [8207/13]

Séamus Healy (Tipperary South, Workers and Unemployed Action Group)
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To ask the Minister for Finance if he will confirm the position of Credit Union Investments in the Irish Bank Resolutions Corporation and if these investments will be repaid in full, particularly since these investment bonds offered 100% capital security through an eight year three months fixed term deposit facility due to mature in September 2013; and if he will make a statement on the matter. [8630/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 237, 249 and 273 together.

Eligible deposits in IBRC are covered by the joint safeguards of the Deposit Guarantee Scheme (DGS) and/or the Eligible Guarantee Scheme (ELG). Eligible deposits of up to €100,000 for an individual and €200,000 for individuals with a joint account in IBRC are protected by the DGS. Eligible deposits above this limit are guaranteed under the ELG. The majority of the deposits in IBRC are covered under one or both of these schemes.

I am advised by the CBI that certain tracker bonds sold to Credit Unions which were liabilities of IBRC at the time of the liquidation have a structured deposit element which is covered by the Deposit Guarantee Scheme for that element of the product. As a result the first €100k of any claim from these depositors is covered under the DGS Scheme. I have been advised that the Liquidator is aware of a number of depositors who fall outside the eligibility criteria for the ELG Scheme due to the nature of the investment product. Unfortunately, if a deposit is not eligible under the ELG scheme the depositor will rank as an unsecured creditor in the liquidation.

Gerry Adams (Louth, Sinn Fein)
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To ask the Minister for Finance if he will confirm news reporting that a number of legal entities remain outside the Irish Bank Resolution Corporation liquidation including entities related to the wealth management division and the assurance company; if he will list the names of each corporate entity that remains outside the liquidation of IBRC; the reason these corporate entities remain outside the liquidation; and if he will make a statement on the matter. [8057/13]

Michael Noonan (Limerick City, Fine Gael)
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The Special Liquidators were appointed to Irish Bank Resolution Corporation Limited (the "Bank") pursuant to the Special Liquidation Order of 7th February 2013 (the "order") and they are in the process of progressing the special liquidation pursuant to the order. The Special Liquidators are currently establishing the composition of and the ownership structure of the subsidiaries of which there are nearly 300. However, no other entities, other than the Bank were specifically party to the order of 7th February. The remaining subsidiaries will be wound up or sold by the Special Liquidators to optimise value, and once all of its obligations are resolved, IBRC will cease to exist.

Gerry Adams (Louth, Sinn Fein)
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To ask the Minister for Finance if he will detail the total euro nominal value of unguaranteed and unsecured senior and subordinated debt that was outstanding in the Irish Bank Resolution Corporation before its liquidation; and if he will make a statement on the matter. [8058/13]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware, on 7 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 the 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 maximum 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.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will clarify the redundancy treatment and the contractual entitlements of former top executives in the Irish Bank Resolution Corporation; if top executives are entitled to jobs of equal status and financial terms under their contracts, or have clauses included in their contracts which allow for special payments in the event of liquidation. [8060/13]

Gerry Adams (Louth, Sinn Fein)
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To ask the Minister for Finance if a person (details supplied) and their fellow senior executives are to receive different compensation above that detailed in his Departments questions and answers document on the Irish Bank Resolution Corporation liquidation published on the 6 February 2013 under the heading background/redundancy entitlements; and if he will make a statement on the matter. [8284/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 240 and 255 together.

Following the liquidation, all employment contracts in the Republic of Ireland have been terminated, including those of the former Senior Executives.

The Special Liquidators have confirmed that the majority of staff, including some senior executives, have been re-employed on short term contracts to assist in the liquidation.

Where relevant, all staff are entitled to apply for a statutory redundancy payment, a payment in respect of accrued but unused annual leave and a statutory notice payment, subject to the limits prescribed by statute.