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Adams raises series of concerns with Kenny on IBRC Investigation

4 June, 2015 - by Gerry Adams TD


Sinn Féin Leader Gerry Adams TD has written to Taoiseach Enda Kenny today raising a series of concerns about the proposed Commission of Investigation into IBRC transactions.

Speaking this afternoon Gerry Adams said:

“Sinn Fein believes that the proposed Terms of Reference for the Commission of Investigation should be broadened if it is to enjoy the confidence of the Oireachtas and the general public. I have written to Taoiseach raising these concerns in detail.

“Crucially, the Terms of Reference must include the right to examine the political oversight of IBRC by the Minister for Finance and the Department of Finance. The government is trying to distance itself from all of this and from the Commission of Investigation. That is not good enough.

“The Commission must be allowed to review transactions, activities and management decisions involving KPMG in its role as special liquidator.

“The €10 million threshold which has been set for capital loss is too high and should be reduced to €1 million.

“It is in the public interest that beneficial owners who received payments, like those shareholders who owned Siteserv, should be identified in the Investigation. This is to ensure that there was no conflict of interest.

“Finally, the 31st December timeframe for completion of the report by the Commission of Investigation is unacceptable. The Dáil will not be sitting during this period and will not be in a position to discuss the findings for weeks.

“There is also understandable concern that there may be an election called between now and 31st December. The Investigation should be tasked to produce its report no later than 31st October 2015.

“The government approach on this issue has been marked by prevarication and evasion. Questions were unanswered, the Dáil has been misled and now, on the cusp of a Commission of Investigation, minutes of meetings involving IBRC have suddenly been discovered.

“For the public to have faith in any Investigation, the concerns I have raised with the Taoiseach need to be addressed.”

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