Friday 15 November 2019

IBRC liquidation set to return €1.1bn paid by State to depositors

Gavin McLoughlin

Gavin McLoughlin

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.

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