Catherine Murphy (Kildare North, Independent)
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123. To ask the Minister for Finance if he will provide a list of the number of large transactions undertaken by the Irish Bank Resolution Corporation which his Department had concerns over, as described in documents released to this Deputy under the Freedom of Information Act, concerning the sale of a company (details supplied) by the corporation, and which he was also described as being very concerned about; if he will specifically and methodically indicate the amounts concerned in each case, that is, the impact upon the capital holdings of the corporation, the cost to the State, the total write-downs on original value and so on; and if he will make a statement on the matter. [16655/15]

Michael McGrath (Cork South Central, Fianna Fail)
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133. To ask the Minister for Finance if he will provide details of each transaction engaged in by the Irish Bank Resolution Corporation since the nationalisation of the former Anglo Irish Bank, and prior to the appointment of a special liquidator for the corporation, that his Department officials expressed some concern about; if he will provide this information in aggregate or summary form; the action that was taken by his Department in each case; and if he will make a statement on the matter. [16751/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 123 and 133 together.

In terms of transactions involving IBRC in which my Department had concerns over, I would like to draw the Deputy's attention towards the Department of Finance website where documents released under a recent FOI have been published. On page 7 of the document titled '8. Briefing ahead of 25 July meeting', there is a table containing six matters over which the Department of Finance officials raised concerns. .

In response to publicly raised concerns, as announced last Thursday, I am directing the Special Liquidators of IBRC to review and report on all transactions, activities and management decisions which occurred between the date of nationalisation and the date that IBRC entered into liquidation that resulted in a capital loss to IBRC of at least €10 million.  I have also directed the Special Liquidators to include in their review and report any transactions which would likely give rise to public concerns in respect of the ultimate returns to the taxpayer.

The review and report will evaluate whether there is any evidence of material deficiencies in the performance of their functions by those acting on behalf of IBRC, including the board, directors, management and agents of IBRC and whether it can be concluded that any of the transactions were not commercially sound.  The special liquidators will also be obliged to ensure that any conflicts of interest which may arise are properly managed.

Directing that a review be conducted by the Special Liquidators has the advantage of enabling work on the review to commence very quickly. The review will be completed by the 31st of August and I intend to make this report available to relevant committees of the Oireachtas as requested.

Catherine Murphy (Kildare North, Independent)
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124. To ask the Minister for Finance if he will elaborate specifically upon what his Department officials described as poor management which was displayed in a number of large transactions, as described in documents released to this Deputy under the Freedom of Information Act, concerning the sale of a company (details supplied) by the Irish Bank Resolution Corporation; if his Department had any concerns regarding specific persons working in the corporation with regard to these poor decisions; if so, if he will he state whom; and if he will make a statement on the matter. [16656/15]

Michael Noonan (Limerick City, Fine Gael)
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I would like to draw the Deputy's attention towards the Department of Finance website where documents released under a recent FOI have been published at . On page 7 of the document titled '8. Briefing ahead of 25 July meeting', there is a table containing six matters of concern at that time.

As reflected in the documents released under FOI, there were concerns regarding a number of transactions and decisions at the time.  The aggregate of these concerns could fairly be described as a broader concern regarding effective corporate governance and effective communication with IBRC. It is well understood that the Department's engagement was primarily with IBRC's senior executives and Chairman.  As a result, any concerns would have been raised with those individuals.  However, it would be inappropriate to assume that concerns regarding governance and information sharing could be construed as concerns with individuals themselves.

Catherine Murphy (Kildare North, Independent)
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125. To ask the Minister for Finance further to Parliamentary Question No. 220 of 16 December 2014, the reason he refused to answer the specific question, which asked if he was satisfied that the sale of a company (details supplied) by the Irish Bank Resolution Corporation was done in the best possible interests of the State, instead indicating that he was informed that the board of the corporation considered it so; his views that failing to supply his position on this matter may lead to a reasonable assumption, based on the reply to the parliamentary question, that his Department had no concerns whatsoever regarding the matter; if he will concede that this is a dissimulative approach to take, considering information which later came to light proved otherwise; and if he will make a statement on the matter. [16657/15]

Catherine Murphy (Kildare North, Independent)
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126. To ask the Minister for Finance if he will categorically state if the sale of a company (details supplied) by the Irish Bank Resolution Corporation was in fact conducted for the maximum return for the State; the reason he has failed to state his position thus far on this matter, even though it has come to light that his Department believed that the sale decision has raised a number of areas where it believes that decisions taken by the corporation resulted in a less optimum return for the bank, as is clearly written in documents marked seen by the Minister; and if he will make a statement on the matter. [16658/15]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 125 and 126 together.

The Chairman of IBRC provided me with strong assurances that the transaction had been thoroughly assessed by the IBRC Board and that they were satisfied that the transaction had been managed in the best manner possible to achieve the best result for the State. The IBRC Board had a fiduciary responsibility to the bank's stakeholders and in light of this legal responsibility the Chairman and the Board would have considered and provided such assurances following serious and careful consideration.  As neither I nor my officials were involved in the execution of this transaction, I must rely on the fiduciary responsibility of the IBRC Board and the explicit assurances provided to me by the Chairman of the Board that this transaction was done in the best possible interests of the State.

It is completely reasonable that I state that I was satisfied with the Board's assurances that the concerns raised had been dealt with in a manner that gave the Board no cause for concern.

Catherine Murphy (Kildare North, Independent)
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127. To ask the Minister for Finance if he will release the findings of the review undertaken by officials at the Central Bank of Ireland into the sale of a company (details supplied) by the Irish Bank Resolution Corporation; if he will indicate the main recommendations arising from same; and if he will make a statement on the matter. [16659/15]

Michael Noonan (Limerick City, Fine Gael)
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Following a search of relevant files, there is no record of my Department being furnished with a copy of this report undertaken by the Central Bank into the sale of the company referred to in the question and therefore I am not in a position to release the report.