Noonan reveals tensions with IBRC
Published 23/04/2015 | 02:30
Finance Minister Michael Noonan has revealed for the first time the fractious relationship between his department and the former Anglo Irish Bank.
Mr Noonan has listed a series of issues leading up to the liquidation of the Irish Bank Resolution Corporation (IBRC), which illustrated the rising tensions.
However, Mr Noonan said he "trusted" assurances from former IBRC chairman Alan Dukes that the controversial €45m sale of Siteserv to a company owned by businessman Denis O'Brien was the best possible deal for the taxpayer. This sale has now been referred to the taxpayers' watchdog.
Under the new Government, relations grew increasingly testy between the Finance Department and IBRC. Mr Noonan said the department's concerns included executive pay, board membership, appointment of managers and the Siteserv sale.