Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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68. To ask the Minister for Finance the name of the creditors that received payments from the joint special liquidators of IBRC since the liquidation commenced on 7 February 2013; the amounts claimed by each creditor; the amounts paid to each creditor; and if he will make a statement on the matter. [3233/19]

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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69. To ask the Minister for Finance the name of the creditors that claimed payments from the joint special liquidators of IBRC since the liquidation commenced on 7 February 2013 and whose claims have been validated but not paid in full or not at all; the amounts outstanding in each case; and if he will make a statement on the matter. [3234/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 68 and 69 together.

I am advised by the Special Liquidators of IBRC that for reasons of commercial sensitivity and confidentiality, they do not believe it would be appropriate to provide the requested details regarding individual creditors and their claims on the liquidation of IBRC.

As at the end of December 2017 more than 2,400 claims had been adjudicated on with a remaining c.700 claims undergoing review. Pages 14 and 15 of the most recent progress update report () provides a detailed overview of the creditor adjudication process.

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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70. To ask the Minister for Finance the name of the professional service providers that received payments from the joint special liquidators of IBRC since the liquidation on 7 February 2013; the amounts paid in each case; and if he will make a statement on the matter. [3235/19]

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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71. To ask the Minister for Finance the amount paid to the joint special liquidators of IBRC since the liquidation commenced on 7 February 2013 in respect of fees, party costs and the details of credit notes or deductions provided by joint special liquidators and third party service providers in respect of their fees; the breakdown and basis for same; and if he will make a statement on the matter. [3236/19]

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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73. To ask the Minister for Finance if he has written or communicated to the joint special liquidators of IBRC since the liquidation commenced on 7 February 2013 in relation to their costs in the liquidation which are estimated to exceed €300 million; if copies of such letters and communications will be provided; and if he will make a statement on the matter. [3238/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 70, 71 and 73 together.

The most recent IBRC special liquidation progress update report was published in May 2018 () and provides a detailed overview of the fees and all other third party costs associated with the liquidation of IBRC for the period from the date of the liquidation to 31st December 2017.

For the 59 months since the start of the liquidation in February 2013 to 31st December 2017, professional and legal fees for the special liquidation totaled €239m (net of €8m rebate negotiated by the Department of Finance). The Joint Special Liquidators have indicated their expectation that the liquidation of IBRC should be substantially completed by the end of 2022 at a total estimated liquidation cost of between €291m-€306m, however it is important to note that this is subject to change depending on future events which are outside the control of the Joint Special Liquidators.

The net fees earned by the KPMG special liquidation team were €144.9m (net of a €5m rebate). The scope of work undertaken by the Special Liquidators is outlined in detail in each of the five progress update reports, all of which are available on the Department of Finance website. Details of payments made to other significant legal and professional advisors during this period are also set out in that report.

Excluding the cost of regulatory and compliance activity, the overall KPMG liquidation fees have reduced significantly in recent years. It is not my Department's practice to pass out records of the type requested in response to a Parliamentary Question.

Page 44 of the most recent progress update report details the fees paid to legal advisors and other professional advisors for the period from the date of the liquidation to 31st December 2017. 

Page 42 of the most recent progress update report details the cost management undertaken by the Special Liquidators. These are the various steps taken by the Special Liquidators when hiring legal and third party advisors/contractors to ensure costs are managed efficiently and minimized while ensuring the orderly wind up of IBRC.

I am advised that a further progress update report is due to be published by the Special Liquidators in H1 2019 which will provide a further update on fees and costs for the period to 31st December 2018. 

It is not my Department's practice to publish documentation of the type requested in response to a Parliamentary Question.

Marc MacSharry (Sligo-Leitrim, Fianna Fail)
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72. To ask the Minister for Finance the date of meetings held by him or his officials with the joint special liquidators of IBRC since the liquidation commenced on 7 February 2013 in relation to the costs incurred by the joint special liquidators in the liquidation; if the minutes of those meetings will be provided; and if he will make a statement on the matter. [3237/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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Following the liquidation of IBRC in February 2013 Department of Finance officials formally met with the Special Liquidators on a very frequent basis; however, given the progress being made on the liquidation, the frequency of these formal meetings has reduced as is to be expected.

A breakdown by year of the formal update meetings that have taken place between my Department and the Special Liquidators of IBRC is below:

At these formal meetings the Special Liquidators update officials on the progress of the liquidation and bring to their attention any issues which they feel my Department should be made aware of during these meetings. Should my officials have any queries in relation to the professional fees associated with the liquidation or other costs incurred then this matter would be raised during these update meetings. Minutes of meetings with the Special Liquidators are not published as they are commercially sensitive due to the ongoing nature of the liquidation.

Officials also meet and speak regularly with the Special Liquidators outside of a formal meeting setting as specific matters arise. Such interactions are frequent and can range from a daily to a weekly basis. 

The Special Liquidators publish an annual progress update report on the liquidation of IBRC which is publicly available and this report also has a section on fees and costs of the liquidation and also outlines the various cost management activities undertaken by the Special Liquidators and the nature of the on-going interaction with the Department in this regard. In addition, my officials receive a quarterly report from the Special Liquidators which gives an update on the liquidation of IBRC.  This report outlines the progress being made by the Special Liquidators on the various work streams which are on-going.  The report also provides a fee update for the period for which the report relates to.  Department of Finance officials review these reports once received and revert to the Special Liquidators should they have any queries on any aspect of the report.