A decade after the dramatic liquidation of IBRC, the returns continue to flow — not just in billions to the Exchequer, but in hard-won economic sovereignty.
Gerry Maguire built the Laurence Town Centre in Drogheda at a cost of €120m, supporting hundreds of jobs. A religious man who passed away in recent days, he was one of a group of developers assembled to try to save Anglo Irish Bank.
The Slieve Russell Hotel was a physical manifestation of Sean Quinn's own grandiose ambition and of his unfettered loyalty to his locality. It sale marks the end of an era.
After taking years to investigate the sale of the company to Denis O'Brien by the former Anglo Irish Bank, one of the IBRC Commission's main recommendations regarding "impropriety" in the transaction has come to nothing.
The government will now shutter the IBRC Commission rather than make it trawl through 37 other deals. It raises a question of why Enda Kenny and Michael Noonan made the curious and unexplained decision to extend its remit beyond Siteserv in the first place.
Despite a bitter dispute with his former employer Anglo Irish Bank, Tom Browne sought to move on with his life, co-founding the corporate finance firm LeBruin and investing as far as China and the Caribbean. Now IBRC has re-ignited legal action.
The Court of Appeal has urged IBRC to mediate its negligence claim against former Irish Nationwide boss Michael Fingleton. But first the case will have to be reconstituted as the 84 year old is no longer fit to instruct his legal team.
Former Nationwide boss Michael Fingleton is trying to collapse IBRC's €6 billion negligence suit against him on grounds of ill health. Now the bank's special liquidators have lodged a new claim against the retired banker and his wife.
It took more than a decade. But this morning the liquidators of Irish Bank Resolution Corporation settled its action against former Anglo Irish Bank director Tom Browne.
The collapsed lender is pursuing one of its former executives for tens of millions of euro in old loans. But Tom Browne is fighting back claiming Anglo's failure to disclose Sean Quinn's large CFD stake in the bank in 2007 renders the facilities invalid.
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