IBRC junior bondholders submit claims of €285m

Junior bondholders of the former Anglo Irish Bank could be in line for a bigger payment than was previously expected after it emerged they have lodged larger-than-expected claims.

The liquidation of IBRC has netted more than €16bn meaning there will be a surplus of about €1.85bn to be distributed among its unsecured creditors, including junior bondholders.

The State, which is owed €1.1bn, is ahead of the junior bondholders in the payment queue as are other creditors but those at the bottom of the pile are still likely to be paid, given the size of the surplus.