Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance the valuation process to be undertaken in respect of Irish bank Resolution Corporation's legacy loan book that will be offered for sale; if he will provide the par value and post provision book value of the IBRC loan book at 6 February 2013; and if he will provide an estimate of the time needed to value the IBRC loan book. [11341/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that the Special Liquidators are in the process of obtaining suitable independent professional advisers who shall employ standard valuation methodologies appropriate to each class of asset of IBRC. As previously stated, detailed information in relation to the Bank’s financial performance, including information on provisioning is published semi-annually in the Bank’s interim report and annual report and accounts. Additional information will not be published as it is commercially sensitive financial information which could potentially have a detrimental impact on asset recovery from the impending sale process. The Special Liquidators anticipate having the valuations of the loan books completed by the end of June 2013.

Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will confirm that Irish Bank Resolution Corporation is this week, week ending 27 February 2013, writing to borrowers regarding the disposal of their loans, the process to be adopted by the Special Liquidator KPMG to ensure that any sale is transparent, that potential buyers have access to adequate information and sufficient time to arrange financing and that the interests of the taxpayer will in general be protected and the sale price maximised. [11344/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators that the reports in the Sunday newspaper referred to are incorrect. The Special Liquidators are still in the process of devising and implementing the sales process in respect of IBRC’s assets. Therefore, they are not in a position to write to borrowers with regard to the disposal of their loans. The Special Liquidators are in the process of obtaining suitable independent professional advisers who shall employ standard valuation methodologies appropriate to each class of asset of IBRC. Following that independent valuation process, the Special Liquidators will sell the assets of IBRC, which are subject to the floating charge. Borrowers, third parties and other financial institutions will be given the opportunity to bid for specific portfolios - or component parts thereof - as part of an open and transparent process at or above their independent valuation and failing that, the Special Liquidators will sell the assets to NAMA at their valuation price.