DJ Carey’s 99pc debt write-off raised in the Dáil with Taoiseach Leo Varadkar

Leo Varadkar replied: “I'm so reluctant to talk about any individual's personal finances, whether they're famous or not.”

Peadar Tóibín TD, leader of Aontú, said a loan running into the millions to D. J. Carey had been written-down by over 99pc, which was “incredible” and “jaw-dropping.”

There were many people who had experience of mortgage arrears and who could not get any degree of debt forgiveness, even though they might effectively be sitting on “a lump of rubble,” he said.

“There are also small businesses which experienced these banks telling them that it's not possible to give write-downs to reduce the level of debt that they owe.

“And it's just really difficult for so many people to see what appears to be two cohorts of individuals being treated differently.”

Mr Tóibín said he didn't know the specific details of Mr Carey's write-down, but the scale of it had been revealed in the media.

He noted that AIB was due to be called into the Finance Committee shortly to discuss their policies.

He said: “I believe the Government should have an understanding of the policies of banks, especially banks, that are in part owned by the State.”

Mr Tóibín asked if the Taoiseach knew how many write-downs of over 90pc had been afforded over the last number of years to citizens by the AIB.

He pointed out that the State had public interest directors on the board of AIB. He asked if these directors were knowledgeable about specific write-downs to such a level.

“Did they give this information back to the Department of Finance to the Minister for Finance?

“We need a banking system that is fair and reasonable to individuals who are in mortgage distress.”

The Taoiseach replied that he was aware of a reported settlement which had made the papers.

“I'm reluctant to talk about any individual's personal finances, whether they're famous or not. But I think if the committee is meeting with the banks, they could certainly explore the wider policy approach that banks follow in writing down debts," he said.

Mr Varadkar added: “I imagine it's linked to how much the person is able to pay back, rather than who they are.

“But that needs to be looked at, I think. And I can't tell you how many have had write downs of more than 90pc.” He speculated that the Department of Finance may have those figures.

“I don't have them personally. There is a relationship framework, according to which the Department of Finance has engaged with the banks. It is based on ensuring that it (the relationship) is commercial and at arm's length.”