Catherine Murphy (Kildare North, Social Democrats)
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236. To ask the Minister for Finance if he will provide an historical schedule of annual costs to date regarding the management of commercial properties in Russia and Ukraine on behalf of the former special liquidators of a bank (details supplied) and the liquidators themselves. [61697/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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The IBRC Ninth Progress Update report was published on 9 September 2022 and provides information on costs incurred in the special liquidation to date, with cost information also provided by workstream and by time period. I am advised by the Special Liquidators that they are precluded from providing the details sought in relation to individual assets, as this is commercially sensitive information.

As set out in the annual progress update report, IBRC has assets located in both Russia and Ukraine which have been affected by the current conflict in Ukraine. In particular, there is currently major uncertainty in relation to the current realisable value of the Ukrainian assets located in Kyiv. There is also uncertainty as to what the impact of the current conflict will be on commercial property in Russia, the extent and duration of the current sanctions and the possibility of additional sanctions.

The Special Liquidators proactively and intensively manage all remaining assets on the balance sheet and seek to mitigate any adverse impacts on asset realisation strategies. Asset management strategies are adopted by the Special Liquidators according to the priority liquidation outcome of maximising the ultimate return to the State.

Officials in my Department engage regularly with the Special Liquidators and also receive regular reports which include fee estimates as well as quarterly ‘Estimated Liquidation Outcome’ reports and will continue to actively engage with the Special Liquidators on these matters.