Michael McGrath (Cork South Central, Fianna Fail)
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82. To ask the Minister for Finance the current status of the reports completed by McCann FitzGerald and Ernst and Young into certain corporate governance matters at the former Irish Nationwide Building Society; if the reports have been referred to the Garda Síochána and the Office of the Director of Corporate Enforcement; the action being taken on foot of the content of the reports; and if he will make a statement on the matter. [6536/15]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy is aware, a number of reports were produced by Ernst and Young and McCann FitzGerald at the request of the INBS Board. Copies of all of these reports have been provided to the Central Bank of Ireland (CBI ) under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. IBRC was prohibited from disclosing these reports to anyone without the consent of the CBI, McCann FitzGerald and Ernst & Young.

I am advised by the Special Liquidators that given the on going nature of the investigations by the Authorities, including in particular the investigation being conducted under the Central Bank's Administrative Sanctions Procedure into historic lending practices at INBS, the reports cannot legally be published at this time.

As the Deputy is aware, there are ongoing civil proceedings against former directors of INBS. No reports about INBS legacy issues were submitted to the Office of the Director of Corporate Enforcement as part of these proceedings as that office does not have statutory jurisdiction over building societies.

Publication of the reports may be considered when the Central Bank proceedings are concluded or when any Garda investigation has been finalised (or any proceedings arising from such investigation are concluded).