Press release
Minister McGrath publishes the Tenth Progress Update Report received from the Special Liquidators of IBRC
Published on
Last updated on
Published on
Last updated on
The Minister for Finance Michael McGrath today [Friday] published the tenth Progress Update Report on the Special Liquidation of IBRC. This report was formally requested by the Minister for Finance from the Joint Special Liquidators of IBRC, Mr Kieran Wallace and Mr Eamonn Richardson and is now available on the Department of Finance website. The purpose of this report is to provide an annual update on the special liquidation and transparency around workstreams and associated costs.
Commenting on the latest Progress Update Report, Minister McGrath stated:
“This Report highlights the progress which the Joint Special Liquidators have made during 2022 as they continue to focus their efforts on concluding the special liquidation of IBRC before the end of 2024.
"The liquidators continue their ongoing management of the wind down process, with further resolution of litigation proceedings during the year and a focus on the preparation and sale of various assets from the remaining loan book.
"The priority outcome from the special liquidation continues to be to maximise the ultimate return for the State.
"I would like to thank the Special Liquidators and their staff for their continued work and I am confident in the completion of the liquidation in a manner that achieves the best possible return on the remaining assets.”