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 Post subject: Liquidator’s IBRC report in progress
PostPosted: Sun Jul 20, 2014 12:46 pm 
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Liquidator’s IBRC report in progress and to be sent ‘imminently’ - -> http://www.irishexaminer.com/business/l ... 75595.html

Quote:
The special liquidator’s report into IBRC will be sent to the Office of the Director of Corporate Enforcement (ODCE) "imminently", according to sources.
A spokesman for KPMG, the special liquidators of IBRC, said the report “is in progress” but declined to comment on when exactly it would be delivered to the ODCE.
The contents of the report are confidential and will not be released to the general public.
Under Section 56 of the Company Law Enforcement Act, all liquidators have to make a report for the ODCE.

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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Sun Jul 20, 2014 1:08 pm 
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ECB raises serious concerns about promissory note deal - -> http://www.irishtimes.com/business/econ ... -1.1753024
Mon, Apr 7, 2014

Quote:
Frankfurt says liquidation of defunct bank may have contravened European Union financing rules

Ireland won European Central Bank approval last year to stretch out the cost of bailing out collapsed Anglo Irish Bank after nearly 18 months of talks to slice billions off the Government’s borrowing needs, cut its budget deficit and help it exit an EU/IMF bailout.

As part of the debt swap, Ireland pledged to issue new bonds worth €25 billion, but to slowly drip-fed them into the market via the country’s central bank, with a minimum of €500 million to be sold by the end of 2014.


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Wed Mar 18, 2015 3:09 pm 
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IBRC progress update report 12 March 2015

http://www.finance.gov.ie/sites/default ... c%2014.pdf

Cash inflow and outflow summary
Inflows: €16.53bn
Outflows: €14.68 bn
Net cash 6 Feb 2015: €1.85bn

Tasks to completion
Liquidity management of €1.85 billion
Manage remaining loan book of €3.6 billion
Set up SMU by 1 July 2015. To support on-going activities, a Service Management Unit (“SMU”) will be put in place. This will comprise IBRC and KPMG staff and personnel supported by external service providers where necessary i.e. IT, HR, Legal. This unit will formally operate from 1 July 2015 until the liquidation is concluded. It is envisioned that 36 IBRC employees will form part of the SMU.

All IBRC offices closed with the exception of Stephen Court.
There are currently 157 employees remaining as at 1 March 2015. Staff levels are being monitored to ensure that adequate staffing levels are maintained as the SL progresses.
A further 121 employees will leave IBRC by 30 June 2015.

As at 6 February 2015, IBRC had cash balances of approximately .1.85 billion. Surplus funds from the liquidation will be available for distribution to unsecured creditors.
The dividend payable to unsecured creditors cannot be estimated at this time.
We hope to be in a position to make an interim dividend to unsecured creditors in Q4 2015.


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Thu Mar 19, 2015 10:22 am 
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State for early cash payout from liquidation of IBRC

http://www.irishtimes.com/business/econ ... -1.2139453


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Thu Apr 16, 2015 12:32 pm 
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IBRC deal with the Quinn family would see pragmatism triumph over fairness

http://www.independent.ie/opinion/comme ... 45967.html


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Wed Jun 10, 2015 10:52 pm 
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Constantin reporting Peter Matthews who claims that IBRC were cooking the books and extracting additional interest for many many years which was known to regulator and others.

http://trueeconomics.blogspot.de/2015/0 ... uscomments

Questions how investigation will fare if all this was supposedly known already and nothing was done.


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Thu Jun 11, 2015 11:26 am 
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^^^ This would appear to be massively important. But no mention in the media? I know none of us are surprised by what makes it into the O'Brien media or RTE, but ignoring the issue won't make it go away.


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Thu Jun 11, 2015 11:58 am 
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Isn't this the equivalent of the libor scandal on an Irish scale?


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Thu Jun 11, 2015 1:29 pm 
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dipole wrote:
Isn't this the equivalent of the libor scandal on an Irish scale?

There's an interesting discussion of "TIBOR" on an old NWL comment thread here:

https://namawinelake.wordpress.com/2012 ... ment-29529


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 Post subject: Re: Liquidator’s IBRC report in progress
PostPosted: Thu Jun 11, 2015 8:52 pm 
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I wonder what the 'Public Interest Director' Alan Dukes has to say about all this?


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