Business Irish

Sunday 23 July 2017

Fees for liquidators and lawyers involved in IBRC wind up were €215m

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IBRC logo
Donal O'Donovan

Donal O'Donovan

Fees for liquidators and lawyers involved in the winding down of the former IBRC were €215m in the 47 months to the end of last year.

The biggest fees, around €130m, were paid to KPMG, where special liquidators Kieran Wallace and Eamonn Richardson are partners, according to an update on the liquidation released today.

In the update for the Minister for Finance, the liquidators said they’ve handed over all documents requested by the Commission of Inquiry into the controversial Siteserv deal, including in relation to the interest rate setting policy at the former bank. The update says former customers of the bank who were overcharged interest by their lender will begin receiving cheques within months.

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