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Major tensions with IBRC

New documents have revealed major tensions between the Department of Finance and IBRC over how it co...
TodayFM
TodayFM

6:23 AM - 24 Apr 2015



Major tensions with IBRC

News

Major tensions with IBRC

TodayFM
TodayFM

6:23 AM - 24 Apr 2015



New documents have revealed major tensions between the Department of Finance and IBRC over how it conducted a number of deals and appointments.

The Irish Times reports there was also tension over how some major borrowers were treated.

It's as Opposition parties have lashed out at the Government's plans for an inquiry into the sale of SiteServ.

Michael Noonan's asking IBRC's liquidators to take personal command of a review that will stretch far beyond SiteServ.

They're looking into every decision that resulted in the bank losing Ä10 million or more - but an investigation that broad means it won't be quick.

Minister Noonan says the liquidators will already have a lot of the information they needed - but they're getting until the end of August to report back with their findings.

Opposition parties have criticised the plans, saying the liquidators aren't independent enough - as theyÂ’re from KPMG, who signed off on the original sale process.

They're also asking why Michael Noonan accepted assurances from the board of IBRC about SiteServ - when his own civil servants said the board might not be capable of a truly independent view.



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