Éamon Ó Cuív (Galway West, Fianna Fail)
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194. To ask the Minister for Finance the position regarding insurance claimants against Setanta Insurance Company; when payments will be made to these claimants; the reason for the delay; the steps he is taking to expedite the matter; and if he will make a statement on the matter. [40672/15]

Michael Noonan (Limerick City, Fine Gael)
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In my role as Minister for Finance, I have responsibility for policy and legislation governing financial services, including regulation. However, specific arrangements for payments under the Motor Insurers' Bureau of Ireland Agreements with the Minister for Transport, Tourism and Sport are not under my remit.  Similarly, while I have responsibility for the legislative framework, administration of payments from the ICF is a matter for the Accountant of the Courts of Justice who is independent in this role. 

The liquidation of an insurance company is a legally complex and time consuming process. Setanta is a Maltese incorporated company and the Setanta liquidation is being carried out under Maltese law. 

Progress in the liquidation of Setanta has been awaiting the outcome of the High Court case of The Law Society of Ireland versus The Motor Insurers' Bureau of Ireland.  On 4th September 2015, the High Court held that the MIBI is liable in respect of claims against the policy holders of Setanta.  This decision was appealed by the MIBI and a temporary stay was put on that Order. My understanding is that this stay is now lifted.  It would be a matter for the Setanta Liquidator and the MIBI to consider the implications of this decision on arrangements to progress claims. 

The Office of Accountant of the Courts of Justice has advised my officials that it is of the view that a small number of Setanta claims would not fall to be paid by the MIBI and may be due for payment from the Insurance Compensation Fund.  The Accountant states that he has been engaging with his legal advisors and the Setanta liquidator to identify these claims and that his objective is to bring to them before the High Court at the first opportunity.