Liquidator denies conflict of interest in decision not to sue KPMG

The special liquidator Kieran Wallace has strongly rejected any claims that there is a conflict of interest that has resulted in him not suing his ultimate employers, KPMG as part of the liquidation of IBRC.

The allegations were levelled in a court case where the former director of Irish Nationwide Building Society (INBS) is being sued over losses that now form part of the liquidation of IBRC.

In a letter that was produced in the commercial court solicitors for Terence J Cooney had written to the minister of finance telling him to sue INBS’s auditors KPMG.