Noonan ‘cannot interfere’ in IBRC row

Finance Minister Michael Noonan has said he cannot interfere in the dispute between IBRC and its staff over redundancy payments which could see the latter taking industrial action.

Just over 100 staff remain at the financial institution, who are members of finance union IBOA, have backed action unless they are given four weeks’ pay per year of service, the redundancy terms which were on offer at the financial institution a little over a year ago.

The amount has been reduced to two weeks pay per year of service since February 2013 when the special liquidators were appointed to IBRC.