Pearse Doherty (Donegal South West, Sinn Fein)
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184. To ask the Minister for Finance further to Parliamentary Question No. 109 of July 2013, the basis on which the Special Liquidators have two years from the date of their appointment to make filings in the Companies Registration Office. [34230/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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185. To ask the Minister for Finance if he will confirm the filing obligations of the Special Liquidators of Irish Bank Resolution Corporation in the Companies Registration Office since the date of their appointment. [34231/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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186. To ask the Minister for Finance if the Special Liquidators of Irish Bank Resolution Corporation have complied with all their obligations to file in the Companies Registrations Office since the date of their appointment; and if not the specific filing obligations that have not been complied with. [34232/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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187. To ask the Minister for Finance the specific filings that have been made in the Companies Registration Office by the Special Liquidators of the Irish Bank Resolution Corporation since the date of their appointment. [34233/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 184 to 187, inclusive, together.

In responding to these questions, the Special Liquidators have advised that consideration has to be given, not only to the Companies Acts, 1963 - 2012 (the Companies Acts), but also the Irish Bank Resolution Corporation Act, 2013 (the IBRC Act), the Ministerial Instructions issued to the Special Liquidators under the IBRC Act on 7 February 2013 and 10 May 2013 respectively (the Ministerial Instructions), the Rules of the Superior Courts (the Court Rules) and EC (Reorganisation and Winding up of Credit Institutions) Regulations, 2011 (CIWUD), in accordance with which IBRC is being wound up.

The IBRC Act has modified or disapplied some provisions of the Companies Acts which would apply in the normal course to an ordinary official liquidator.

Per Section 306 of the Companies Act 1963 and per Order 74, rule 130 of the Superior Courts, the Special Liquidators will file a statement “commencing at the date the Liquidator was first appointed and brought down to the end of the two years from the commencement of the winding up” and subsequent statements will be sent “at intervals of one year”.

The Special Liquidators have confirmed that they have complied with all obligations to file in the CRO (Companies Registration Office) to date.

Per Section 227 of the Companies Act 1963, the Special Liquidators are required, within 21 days after their appointment to publish in the CRO Gazette a notice of their appointment and to deliver to the registrar of companies a copy of the Court Order appointing them. The Special Liquidators confirm that the E60 (Irish Bank Resolution Corporation Act 2013 (Special Liquidation) Order 2013) was received by the CRO on 7 February 2013.

In addition to the E60, the Special Liquidators have confirmed that other filings made in the CRO since their appointment are:

1 B2 - change in registered office (at 11 February 2013);

2 Amended Memorandum and Articles (at 6 February 2013) - the insertion of Article 41A to the Articles of Association; and

3 G1 - Special Resolution (at 6 February 2013); Notice that the insertion of Article 41A to the Articles of Association was passed as a special resolution of the Company.

Pearse Doherty (Donegal South West, Sinn Fein)
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188. To ask the Minister for Finance if the Special Liquidators of the Irish Bank Resolution Corporation have complied with all their obligations to file in the High Court since the date of their appointment; and if not the specific filing obligations with the High Court that the Special Liquidators have not complied with since the date of their appointment. [34234/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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189. To ask the Minister for Finance the filings that have been made in the High Court with regard to the Special Liquidators' obligations as liquidators since the date of their appointment. [34235/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 188 and 189 together.

I have been advised by the Special Liquidators that they do not have any obligations to file any documents in the High Court.

Pearse Doherty (Donegal South West, Sinn Fein)
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190. To ask the Minister for Finance the basis and reasoning for the removal of section 313 of the Companies Act 1963 by the Irish Bank Resolution Corporation Act 2013. [34236/13]

Michael Noonan (Limerick City, Fine Gael)
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The Irish Banking Resolution Corporation Act 2013 provided that section 313A of the Companies Act 1963 shall not apply to the liquidation of IBRC. The said section 313A provides that, upon the making of a winding up order or an order appointing an examiner to a company, the liquidator or examiner concerned may obtain a copy of the order from the Central Office of the High court. This section bears no relevance to the liquidation of IBRC as IBRC was liquidated by a Special Liquidation Order and there was no relevant order made by the High Court and filed in the Central Office. In any event, the Special Liquidation Order, as a statutory instrument, is a document of public record freely available and the Special Liquidator has been provided with a copy of that order.

Pearse Doherty (Donegal South West, Sinn Fein)
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191. To ask the Minister for Finance the basis for his stated reasons of commercial confidentiality and sensitivities as the basis of his refusal to confirm the amount of legal and professional fees being incurred by the Special Liquidators since their appointment. [34237/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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192. To ask the Minister for Finance the reason for his information black-out on the payments of legal and professional fees by the Irish Bank Resolution Corporation with the public interest. [34238/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 191 and 192 together.

The Special Liquidators will fully comply with their reporting obligations and as such the liquidation accounts will be filed with the CRO after two years of the liquidation and yearly thereafter. These accounts will include detail on the costs, charges and expenses incurred by the Special Liquidators in that period.

As is normal in liquidations of companies, all costs, charges and expenses properly incurred by the Special Liquidators in relation to the winding up of IBRC, including the Special Liquidators’ fees, will be paid out of the assets of IBRC in priority to all other claims.

The Special Liquidators are responsible for maximising the recovery of the assets of IBRC for the benefit of its creditors. I am advised that the Special Liquidators are keenly aware of their obligations in that regard but that disclosure of commercially sensitive fees and expenses, beyond what is legally required, could potentially have a detrimental impact on the liquidation.

Pearse Doherty (Donegal South West, Sinn Fein)
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193. To ask the Minister for Finance the members of the credit committees of the Special Liquidators of the Irish Banking Resolution Corporation. [34239/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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194. To ask the Minister for Finance the person that employs the members of the credit committees of the Special Liquidators at the Irish Banking Resolution Corporation. [34240/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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195. To ask the Minister for Finance the remuneration of the members of the credit committees of the Special Liquidators at the Irish Banking Resolution Corporation. [34241/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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196. To ask the Minister for Finance if he approves all decisions of the members of the credit committees of the Special Liquidators at the Irish Banking Resolution Corporation. [34242/13]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 193 to 196, inclusive, together.

I am advised by the Special Liquidators that for the larger regulatory group exposures, the Group Credit Committee (“GCC”) of IBRC (in Special Liquidation) decides on all credit decisions. The GCC is chaired by the Chief Risk Officer. The Local Credit Committees of IBRC (in Special Liquidation) are chaired by one of the four direct reports to the Chief Risk Officer. Quorums comprise two credit risk staff members, one business manager and one Special Liquidator nominee.

All decisions are unanimous, otherwise the proposal is withdrawn. Members of the credit committees are chosen in line with IBRC (in Special Liquidation) group policies and procedures. The Department of Finance is not represented on the Credit Committees and I do not have any role in approving the decision of the members of those committees.

I have been advised by the Special Liquidators that they cannot comment on the remuneration packages of individual staff members of IBRC (in Special Liquidation).

Pearse Doherty (Donegal South West, Sinn Fein)
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197. To ask the Minister for Finance the amount of fees paid to date to a person (details supplied) on behalf of Anglo Irish Bank/Irish Bank Resolution Corporation since vacating their position as Attorney General on the 9 March 2011. [34244/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Special liquidators that due to commercial confidentiality and sensitivities and also client/solicitor confidentiality, the Special Liquidators are not in a position to provide these details.