Michael McGrath (Cork South Central, Fianna Fail)
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225. To ask the Minister for Finance the estimate of the surplus the Irish Bank Resolution Corporation special liquidator expects the IBRC to make by the time of its wind-up; and if he will make a statement on the matter. [1071/16]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Special Liquidators that they currently have a cash balance in excess of €2.1bn on hand which will be available for distribution to creditors.

The ultimate level of dividend paid, if any, to each creditor cannot be known until such time as all loan assets are sold, the total level of adjudicated creditors is finalised and the other contingent creditor claims which may crystallise, including those from litigation, are known.

The Special Liquidators intend to provide an update on the winding up of Irish Bank Resolution Corporation Limited (in Special Liquidation) by way of their third progress update report in the first quarter of 2016.