Dáil Éireann Debate, Tuesday - 22 November 2016
174. Deputy Clare Daly asked the Minister for Finance if the liquidators assigned to a credit union (details supplied) would give another credit union the first offer on the offices, in view of the fact that the other credit union has agreed to let the members join their union; and if he will make a statement on the matter. [35959/16]
Amharc ar fhreagraOn 2 November 2016 the President of the High Court, Mr Justice Peter Kelly, appointed joint provisional liquidators Jim Luby and Tom Rogers of McStay Luby to Rush Credit Union Limited. I have been informed by the Central Bank that the liquidators under section 80(1)(b) of the Central Bank and Credit Institutions (Resolution) Act 2011 have a statutory obligation to achieve the best result for the creditors of Rush Credit Union Limited.
In order to obtain the best result for all creditors in such cases, it is expected that in due course the properties of Rush Credit Union Ltd will be put up for sale on the open market and any potential purchasers, including other credit unions, will have an equal opportunity to bid for the properties.
