Lucinda Creighton (Dublin South East, Independent)
Link to this: Individually | In context | Oireachtas source

46. To ask the Minister for Finance further to Parliamentary Question No. 65 on 23 of January 2014, the reason it is the case that simple details regarding the number of bidders for the IBRC loans secured against an hotel (details supplied) prejudices the ability of the special liquidators to obtain best value for the loan assets when similar loan sale disposals by the National Asset Management Agency provide that type of information; if an independent broker was appointed by the special liquidator to sell these loans; if other parties were allowed to bid for the other tranches of the loans that were held by Bank of Ireland, other than Kennedy Wilson; and if he will make a statement on the matter. [4786/14]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I have been advised by the Special Liquidators that the information requested regarding the sale of the loan from IBRC (In Special Liquidation) will not be published as it is commercially sensitive information.  The Special Liquidators believe that releasing this information may prejudice the ability of the Special Liquidators to obtain best value for the loan assets in the ongoing IBRC asset sale process as it would provide an indication to bidders/ interested parties of the level of interest in the loan sales process.

In addition to this, the Special Liquidators have informed me that they will not be commenting on individual customer-related transactions.  Independent third parties were engaged to value the loan assets and the Special Liquidators managed the sales process.  A loan asset that is made available for sale would not be sold to a third party unless the bid received from the third party in question was greater than the independent valuation obtained for that asset.

Separately, refeflecting both commercial considerations and customer confidentiality, Bank of Ireland has reconfirmed that it does not comment on individual customer-related transactions.