Stephen Donnelly (Wicklow, Independent)
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271. To ask the Minister for Finance if he will confirm that the special liquidators of Irish Bank Resolution Corporation refused an offer, in March 2014, to redeem at par a €36 million loan linked to the Galway Clinic; if the loan was subsequently sold by the special liquidators of IBRC to a company (details supplied) which then issued a repayment demand in July 2014 which was met in full; if such details are not available or are commercially sensitive, the controls he has in place to monitor any such occurrences; and if he will make a statement on the matter. [34252/14]

Michael Noonan (Limerick City, Fine Gael)
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The Special Liquidators have been appointed to maximise the overall return for creditors in the liquidation including the Irish taxpayer.The Special Liquidators are unable to comment on individual cases or on the subsequent actions taken by purchasers of loan assets once the loan assets have been sold.

Stephen Donnelly (Wicklow, Independent)
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272. To ask the Minister for Finance if he will provide an update on the financial position of the Irish Bank Resolution Corporation which has disposed of nearly €20 billion of par value loans in the past 12 months. [34253/14]

Michael Noonan (Limerick City, Fine Gael)
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The latest available update on the financial position of IBRC is contained in the Progress Report prepared by the Special Liquidators in June of this year. On receipt of this report I immediately published it on the Department of Finance website. A copy of the June 2014 Progress Report on the Special Liquidation of IBRC can be found in the link below:



Since that update the Special Liquidators have been continuing with the sales process plan developed for the remaining loans in the bank. Sales process for three portfolios are currently under way and are expected to be completed by the end of this year.

The next update on the financial position of IBRC will be available in early 2015. The Special Liquidators will be complying with their obligations and as such the liquidation accounts, which will detail the receipts and payments of the liquidation, will be filed in the CRO in February 2015.