Tuesday, 17 September 2019
Department of Finance
IBRC Legal Cases
132. To ask the Minister for Finance the number of cases concluded in the courts with respect to the IBRC pre-special liquidation; the costs settled to date; the nature of each case; and if he will make a statement on the matter. [37607/19]
The information requested is not held by the Department of Finance. I am advised by the Special Liquidators that the records of the cases concluded in the courts before their appointment and pre-special liquidation are not readily available and it would be a very significant and burdensome exercise to complete not only in terms of costs but also regarding the time it would take to assess the status of every case instituted prior to the special liquidation. I have asked the Special Liquidators to provide an estimate of the cost of retrieving and analysing this information and my officials will contact your office in due course.
At the time of the appointment of the Special Liquidators in February 2013, there were over 1,100 cases that IBRC was party to. Since then, IBRC has reduced the number of legal proceedings to 83. IBRC continues to pursue and manage 19 recovery and enforcement actions. Many of these cases were instigated prior to the Special Liquidators appointment.
The remainder of the cases still extant, range from breach of contract, breach of statute, breach of duty, negligence and allegations of mis-selling swaps and investments.