Niamh Smyth (Cavan-Monaghan, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

181. To ask the Minister for Finance the status of mediation between persons (details supplied) and the special liquidators of a bank; if this mediation is ongoing; if his attention has been drawn to the next step in this matter; the mandate which has been conveyed to those negotiating on the State's behalf; the amount of legal and recovery costs already incurred by the special liquidator on this matter; and if he will make a statement on the matter. [9742/17]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by the Special Liquidators that there is no ongoing mediation with the party referred to in the question or any of their representatives at this time.

Generally speaking, my officials and I would be kept informed by the Special Liquidators at a high level of any such discussions between them and the party referred to in the question but the detail of such discussions between both parties would be a matter for the Special Liquidators in the context of their overriding legal obligations and neither I nor my officials would have any input into such discussions.

In relation to the costs incurred by the Special Liquidators on this matter, I am advised by them that they are not in a position to provide the requested information due to commercial confidentiality and ongoing litigation involving the party referred to in the question.

It is important to note that the Special Liquidators are not only working on behalf of the State but on behalf of all creditors of the liquidation and they have a legal obligation to maximise the recovery on the liquidation of IBRC and deliver the best possible outcome to all creditors.