Brendan Ryan (Dublin North, Labour)
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56. To ask the Minister for Finance with reference to the former Irish Bank Resolution Corporation loan book, if the same discounts offered to interests willing to buy the loan book in bulk offered to the person who has an individual loan with the former IBRC; and if he will make a statement on the matter. [51082/13]

Michael Noonan (Limerick City, Fine Gael)
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I have been advised by the Special Liquidators that they have corresponded with all IBRC borrowers, providing them with an opportunity to make written representations on the method of disposal of their loans and the criteria for determining who may bid for loan assets. The Special Liquidators are under instruction to ensure that the valuation of all IBRC assets is completed by 30 November 2013 and that the sale of all IBRC assets is agreed or completed by no later than 31 December 2013 or as soon as practicable thereafter.

The Special Liquidators have engaged specialist advisors who are providing advice as to whether a loan should be sold individually or as part of a portfolio in order to ensure that maximum value is obtained for that asset within the instructed timeframe. The decisions in relation to the disposal of all loans, following receipt of the expert advice, have been made by the Special Liquidators. Borrowers will be kept fully up to date on the sale of their IBRC loans and collateral obligations. The Special Liquidators do not intend on disclosing the discounts being applied to IBRC assets and/or the valuation of IBRC assets as it is commercially sensitive information which could potentially have a detrimental impact on asset recovery from the impending sales process.