IBRC awaits end of Ukraine conflict to dispose of Russian assets

Sixty per cent of the remaining loan and asset portfolio of former banks Anglo Irish and Irish Nationwide are located in Russia and the Czech Republic, with a further 4% in Ukraine

The special liquidators believe it is extremely difficult to assess the current value of the assets in Russia and Ukraine, nor would it be possible to launch a sales process in these countries.

The Russian invasion of Ukraine has impacted the continued liquidation of assets by the IBRC, as liquidators await the resolution of the conflict before they can assess the value of assets remaining in both countries.

According to the ninth update report from the IBRC — the amalgam of former bust banks Anglo Irish Bank and Irish Nationwide — the winding-down of the remaining €3.5bn loan book is on course for the end of 2024.