IBRC liquidation set to return €1.1bn paid by State to depositors
Liquidating the Irish Bank Resolution Corporation (IBRC) has generated a surplus that will allow the State to recoup €1.1bn paid to depositors under State guarantees.
A report soon to be published by the liquidators will also show that there will probably be enough money to pay €270m owed to junior bondholders, the Irish Times reported.
Billions have already been paid back to preferential creditors, including Nama.
IBRC was established in a merger of Anglo Irish Bank and Irish Nationwide.