IBRC staff told jobs safe for at least 3 months
KPMG’s Kieran Wallace, who was appointed special liquidator of the former Anglo Irish Bank/Irish Nationwide Building Society last Wednesday, yesterday informed IBRC staff via an internal email that the wind-down process will likely take months, but that jobs are safe for the next three months.
The memo added that further communication, regarding progress of the liquidation process, would be forthcoming in two months time.
Mr Wallace met with finance union the IBOA — which represents the IBRC workers — on Monday and is due to meet with the union’s senior representatives again this morning.
An IBOA spokesperson said that Monday’s meeting was used to raise the need for more certainty and clarity for employees and that today’s meeting would be targeting more information and detail regarding how long the liquidation process will last.
Meanwhile, IBRC’s special liquidators also said yesterday that all of the joint institution’s mortgage account holders and borrowers are being contacted directly in writing, with an update on the situation; adding that they still owe and need to keep up repayments.
“The contractual terms and conditions of customer mortgages and other borrowings do not change as a result of the appointment of the special liquidator and all debts owing to Irish Bank Resolution Corporation Ltd (in Special Liquidation) will remain due and enforceable,” a spokesperson for the special liquidators said.
“It is important that customers of IBRC continue to make payments on their loans, and otherwise honour the contractual obligations of their borrowings.”
