Written answers
Tuesday, 25 February 2014
Department of Finance
IBRC Liquidation
Michael McGrath (Cork South Central, Fianna Fail)
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185. To ask the Minister for Finance if there is any performance element built in to the fees agreed with KPMG in respect of the special liquidation of Irish Bank Resolution Corporation, for example by reference to the sale of IBRC assets achieved on the open market; and if he will make a statement on the matter. [8987/14]
Michael Noonan (Limerick City, Fine Gael)
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I can confirm that there is no performance element built in to the fees agreed with KPMG in respect of the liquidation of Irish Bank Resolution Corporation. I can confirm that the original rates agreed with the Special Liquidators are commensurate with those agreed by NAMA following a tender process for insolvency services and are significantly discounted when compared to average KPMG charge out rates.
Michael McGrath (Cork South Central, Fianna Fail)
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186. To ask the Minister for Finance the number of KPMG personnel currently engaged on a full-time and a part-time basis on the special liquidation of the Irish Bank Resolution Corporation; the third parties that might be supporting KPMG in the special liquidation of IBRC at the present time; and if he will make a statement on the matter. [8991/14]
Michael Noonan (Limerick City, Fine Gael)
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Unfortunately my Department has been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.
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