Pearse Doherty (Donegal South West, Sinn Fein)
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72. To ask the Minister for Finance the obligations and duties a special liquidator has under the Companies Act. [32751/13]

Michael Noonan (Limerick City, Fine Gael)
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The powers and duties of the Special Liquidators under the Companies Acts are generally those which are applicable to a liquidator appointed pursuant to the Companies Acts, save that the Minister for Finance may issue instructions and directions to the Special Liquidators to ensure the orderly winding up of IBRC in accordance with the purposes of the IBRC Act and the public interest.

Pearse Doherty (Donegal South West, Sinn Fein)
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73. To ask the Minister for Finance the rights under the Companies Act or other relevant acts a creditor has when a company is in special liquidation. [32752/13]

Michael Noonan (Limerick City, Fine Gael)
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At the outset it is important to note that the Special Liquidators have been appointed to Irish Bank Resolution Corporation pursuant to the Irish Bank Resolution Corporation Act 2013 and the concept of special liquidation is not relevant to any company other than Irish Bank Resolution Corporation Limited.

Creditors of IBRC have rights that are similar to creditors of companies that have been wound up under the Companies Acts. Those rights are largely determined by the priority afforded to them under the Companies Acts and such priority has not been modified under the Irish Bank Resolution Corporation Act 2013.