Agencies' veil of secrecy does not serve public well
THE refusal by the liquidator of the former Anglo Irish Bank to accept a 100pc offer by property investor Paddy McKillen to repay a €133m debt associated with the Jervis Shopping Centre is intriguing. The IBRC (formerly Anglo) is under a government-imposed deadline to sell loans – originally worth €22bn – from the merged former Anglo and Irish Nationwide banks.
The IBRC may have very good reasons for rejecting Mr McKillen's offer, in light of the businessman's overall debts.
The Special Liquidators of the IBRC have refused to comment on the Jervis offer.