Written answers
Thursday, 30 April 2015
Department of Finance
IBRC Operations
Micheál Martin (Cork South Central, Fianna Fail)
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74. To ask the Minister for Finance his views regarding the share prices of Siteserv before, during and after the sale by the Irish Bank Resolution Corporation; if concerns regarding the share price were brought to his attention; and if he will make a statement on the matter. [17147/15]
Michael Noonan (Limerick City, Fine Gael)
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During the Department of Finance review into the sale of Siteserv, the share price movement of Siteserv was not brought to the attention of me or officials in my Department. Neither I nor officials in my Department monitored the share price as we did not have a direct shareholding in Siteserv.
The Irish Stock Exchange investigates suspicious share trading activity including suspected insider dealing on the Enterprise Stock Market, being the market on which Siteserv shares traded, and reports any such findings to the Office of Director of Corporate Enforcement. The Department of Finance does not have a role in this process.
Micheál Martin (Cork South Central, Fianna Fail)
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75. To ask the Minister for Finance if he is awae of the tense relations between the chair of the Irish Bank Resolution Corporation and the Secretary General of his Department; when his attention was drawn to the matter; the person who informed him of such; and if he will make a statement on the matter. [17148/15]
Micheál Martin (Cork South Central, Fianna Fail)
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84. To ask the Minister for Finance his views on the comments made by the former chair of the Irish Bank Resolution Corporation regarding officials in his Department; and if he will make a statement on the matter. [17157/15]
Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 75 and 84 together.
There was a professional working relationship between my Department and senior management of IBRC at all times. Given the issues which the bank was dealing with at the time, this may not have always led to agreement on certain matters between my Department and senior management of IBRC, nor should this be expected. I would expect healthy debate on such matters between the parties involved and expect they would have asked difficult questions of each other during their interactions given the importance of the decisions being made.
We should expect professionals to challenge, debate and sometimes disagree with each other and not shy away from having difficult discussions in pursuing and justifying what they believe to be the best course of action in whatever issue they are addressing.
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