Cabinet agrees to IBRC investigation

The cabinet has agreed to set up a Commission of Investigation into the handling of certain transactions by IBRC.

Cabinet agrees to IBRC investigation

The cabinet has agreed to set up a Commission of Investigation into the handling of certain transactions by IBRC.

Michael Noonan has said that there is no evidence of wrongdoing in any transaction, but he wants a report before the end of the year.

IBRC and its handling of some transactions - including the sale of SiteServ to a firm controlled by Denis O'Brien - were already being examined by IBRC's liquidators from KPMG.

But in the wake of Catherine Murphy's allegations, that Denis O'Brien paid a lower interest rate than other customers, that is now being scrapped in favour of a full independent Commission of Investigation.

Michael Noonan has said that there is still no evidence of any wrongdoing at IBRC, but that there is now enough public concern to merit a full inquiry.

Earlier sources explained that the inquiry by KPMG would no longer have public confidence, because nobody would believe it if it gave IBRC a clean bill of health.

But in the light of the High Court ruling in Denis O'Brien's injunction case against RTE, and the details it reveals, it is now possible that the actions of liquidator Kieran Wallace could also end up being examined.

more courts articles

Man (25) in court charged with murdering his father and attempted murder of mother Man (25) in court charged with murdering his father and attempted murder of mother
Man appears in court charged with false imprisonment of woman in van Man appears in court charged with false imprisonment of woman in van
Man in court over alleged false imprisonment of woman Man in court over alleged false imprisonment of woman

More in this section

Spring weather Mar 28th 2024 Here's what to expect from weather and travel this Easter weekend
Irish homelessness Government criticised for missing social and affordable housing targets
National Risk Assessment for Ireland Tánaiste urges Israel ‘to show humanity’ and allow more aid into Gaza
War_map
Cookie Policy Privacy Policy Brand Safety FAQ Help Contact Us Terms and Conditions

© Examiner Echo Group Limited