Law firm hired to decide whether KPMG faces action

A law firm has been retained by KPMG, the special liquidators of IBRC, to decide whether legal action should be taken against KPMG as auditors of the former Irish Nationwide Building Society.

Michael Noonan, the finance minister, appointed Kieran Wallace and Eamonn Richardson, of KPMG, as special liquidators of IBRC in February 2013.

The pair yesterday announced the appointment of Dublin firm Eugene F Collins to review advice given by another law firm, McCann FitzGerald, concerning legal proceedings against previous directors of Irish Nationwide.