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Stephen Donnelly: information on IBRC liquidation may have been withheld on night of debate

A TD who voted against the liquidation of IBRC says important information may have been withheld ...
Newstalk
Newstalk

11.39 31 Jul 2015


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Stephen Donnelly: information...

Stephen Donnelly: information on IBRC liquidation may have been withheld on night of debate

Newstalk
Newstalk

11.39 31 Jul 2015


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A TD who voted against the liquidation of IBRC says important information may have been withheld from TDs on the night of the debate.

Stephen Donnelly of the Social Democrats says TDs didn't know about the conflicts which have now emerged between the bank and the Department of Finance.

His comments follow the claims of IBRC's former chief executive Mike Aynsley, who last night said the Department had tried to interfere in the sale of assets.

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The Department of Finance won't comment, but Deputy Donnelly says a full investigation is needed:

It is claimed that department officials tried to stop IBRC from selling major assets to a named businessman, simply because of who he was, even if it meant selling it for a lower price.

Mr Aynsley told the Banking Inquiry there should be a record of this in e-mails at the now liquidated bank.

In his written statement, and again in oral evidence, he claimed the official said the finance minister would be satisfied if the bank accepted a hypothetical lower bid in a future sale because of the identity of the higher bidder even if that resulted in the loss of €100m.

Mr Noonan is himself due to give evidence at the inquiry in September.

The Department of Finance says it will not comment on the Banking Inquiry evidence - but Fianna Fáil's Dara Calleary wants an urgent response.


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