Pearse Doherty (Donegal South West, Sinn Fein)
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74. To ask the Minister for Finance if it is intended that the provision of the Irish Bank Resolution Corporation Act 2013 is to have retrospective legal effect and override the specific provisions of the Companies Act that existed prior to the appointment of the special liquidator. [32753/13]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy is directed to Section 10 of the Irish Bank Resolution Corporation Act 2013 (the “IBRC Act”), which sets out the application of the Companies Acts to Irish Bank Resolution Corporation (“IBRC”). The IBRC Act details those provisions of the Companies Acts which do not apply to IBRC, the provisions of the Companies Acts that apply to IBRC and the modifications to the existing Companies Acts which will apply to IBRC. The IBRC Act does not have retrospective legal effect.

Pearse Doherty (Donegal South West, Sinn Fein)
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75. To ask the Minister for Finance if the special liquidator at Irish Bank Resolution Corporation has filed a statement of affairs; and if not, the reason. [32754/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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76. To ask the Minister for Finance the action being taken to ensure the filing of a statement of affairs for Anglo Irish Bank as at the date of the appointment of the special liquidator required under the Companies Act. [32755/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 75 and 76 together.

Under Section 224 of the Companies Act 1963, the statement of affairs is required to be filed and verified by the persons who are directors and secretary (or by other persons as defined under Section 224) of IBRC at the date of the appointment of the liquidator. The Special Liquidators are currently liaising with the Directors/ Secretary of IBRC who are in the process of preparing the statement of affairs.

Pearse Doherty (Donegal South West, Sinn Fein)
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77. To ask the Minister for Finance with regard to the announcement of proceedings by the special liquidator against the former directors of Irish Nationwide Building Society, the position on taking similar civil proceedings against former directors of Anglo Irish Bank who served at executive and non-executive level up to the collapse of the bank. [32756/13]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, in March 2012, the then Boards of INBS and IBRC, having considered legal advice, decided in all the circumstances to institute proceedings against former directors of INBS. These proceedings have been continued by the Special Liquidators following their appointment in February 2013. I am advised by the Special Liquidators that similar proceedings have not been taken against the former directors of Anglo Irish Bank but that the position is subject to on-going review by the Special Liquidators.

Pearse Doherty (Donegal South West, Sinn Fein)
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78. To ask the Minister for Finance under what criteria the special liquidator continues to maintain proceedings on behalf of Irish Bank Resolution Corporation; and if all legal proceedings are assessed in terms of a cost and benefit analysis. [32764/13]

Michael Noonan (Limerick City, Fine Gael)
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I have been advised by the Special Liquidators that they proceed with cases if they believe there are compelling reasons to do so. The decision to proceed is made on a case by case basis having given full consideration to their duties as Special Liquidators and in particular the maximising of commercial return for the creditors.