Michael McGrath (Cork South Central, Fianna Fail)
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62. To ask the Minister for Finance further to his Department's publication of the Irish Bank Resolution Corporation's special liquidators' progress update report dated 12 March 2015, if his attention has been drawn to the contents of the National Asset Management Agency rate cards for professional and legal advisors being applied by the special liquidators; if he approved those rate cards; the contents of those rate cards; and if he will make a statement on the matter. [16029/15]

Michael McGrath (Cork South Central, Fianna Fail)
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63. To ask the Minister for Finance if he is aware of the contents of the rate cards applicable to professional and legal advisors providing services to the National Asset Management Agency; if he approved those rate cards; the contents of those rate cards; and if he will make a statement on the matter. [16030/15]

Michael McGrath (Cork South Central, Fianna Fail)
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65. To ask the Minister for Finance if he is aware of the basis upon which fees are calculated for professional and legal advisors, in relation to the Irish Bank Resolution Corporation's special liquidation, for those firms not charging by reference to a National Asset Management Agency rate card; if he has approved the relevant rates or fees; the full particulars of the relevant rates or fees; and if he will make a statement on the matter. [16032/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 62, 63 and 65 together.

I am advised by the Special Liquidators that they have sought to minimise legal fees to the greatest extent possible. Irish Bank Resolution Corporation Limited (in Special Liquidation) conducted a competitive tender process in order to establish a panel of legal firms. Reduced and/or capped fees were included in the tenders. The Special Liquidators can confirm that the rates per the NAMA rate cards are reduced hourly rates or fixed costs for specific pieces of work.

The Special Liquidators can also confirm that they have successfully negotiated fee rebates from many of the legal firms.

The Special Liquidators cannot disclose information on the particular rates being charged as this is confidential to each of the legal firms. However, there is a summary table of the total gross and total net professional fees associated with the Special Liquidation of IBRC to 31 December 2014 contained in the recent Progress Update Report, a copy of which is available on the Department of Finance website.

Michael McGrath (Cork South Central, Fianna Fail)
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64. To ask the Minister for Finance the names of the professional and legal advisory firms with which he attempted to negotiate fee rebates in respect of the Irish Bank Resolution Corporation's special liquidation, but in relation to which no fee rebate was agreed; and if he will make a statement on the matter. [16031/15]

Michael Noonan (Limerick City, Fine Gael)
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I, as Minister for Finance, successfully negotiated a fee rebate directly with KPMG for their role in the Special Liquidation of IBRC. This resulted in a €5m rebate on their professional fees. I was not involved in negotiations around rebates with any other professional or legal firm as part of the Special Liquidation of IBRC.

All other negotiation of rebates on professional and legal fees as part of the Special Liquidation were a matter for the Special Liquidators as I asked the Special Liquidators to negotiate these and this resulted in the agreement of rebates on already reduced rates with A&L Goodbody Solicitors and Linklaters Solicitors. Total rebates from these two firms amounted to €2.6m which meant that the total rebates received since the start of the liquidation are €7.6m. After KPMG, A&L Goodbody Solicitors and Linklaters solicitors were the two largest recipients of fees arising from the Special Liquidation of IBRC.

A summary of the professional and legal fees, including rebates received, up to year-end 2014 are available in the Special Liquidator update report of March 2015 (a copy of which is available on the Department of Finance website).