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The public deserve answers on junior bondholders - Pearse Doherty TD

8 December, 2014 - by Pearse Doherty TD


Sinn Féin Finance Spokesperson Pearse Doherty TD has said the public deserve clear answers to his questions of last week on the payment of bondholders at IBRC. Deputy Doherty raised the question last Wednesday with Minister Noonan.

Deputy Doherty said:

“Since I raised this issue with Michael Noonan in the Dáil last week there has been very understandable public anger and debate at a time when water charges are dominating the thoughts of hard pressed people. The thought of bondholders getting their hands on the State's money rightly disgusts people.

“What I want to hear is a clear statement that no stone will be left unturned to ensure these bondholders are not paid.  I offered Minister Noonan every opportunity to make this commitment but he and other senior Ministers have failed to make it.

“When I first raised this issue in the Dáil last week Minister Noonan told me junior bondholders would be “legally entitled” to payments in the event their claims were valid and funds were available

“The Tánaiste this weekend twice claimed the Irish people, stood to recoup “all of the money” before any junior bondholders would get paid. Her comments are uninformed, and are at best ignorant and at worst wilfully deceitful.

“A week on from my questioning of Minister Noonan on this issue the government are spinning all over the place and incapable of giving straight answers. This is a complex legal issue but uninformed and inaccurate comments from the Tánaiste have no place in this discussion.

“I will push the Minister further this week to get answers as to how much these bondholders might be in line for and how much the State might benefit too.”

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