Wednesday 23 August 2017

Did IBRC always get the best deals? Hard to know now

Assessing the deals done from the ashes of the former Anglo Irish Bank will come down to highly subjective criteria
Assessing the deals done from the ashes of the former Anglo Irish Bank will come down to highly subjective criteria
Donal O'Donovan

Donal O'Donovan

Did IBRC get the best value when it sold assets, was every client treated the same way by the bank? Who knows, who can know?

A former client of the bank, who lost his business to a receiver during the crash, pointed out to me in recent days that at one point in the crisis his lender, IBRC, valued his assets at around €6m.

With debts a multiple of that, he must have appeared to the bank hopelessly underwater.

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