FRESH claims from rebel shareholder, Piotr Skoczylas, that Irish Life & Permanent (IL&P) can be recapitalised through private investment is unlikely to stop the Government virtually nationalising the group later this week.

Breffni Byrne and Danuta Gray are to stand down from the Board of Irish Life & Permanent, the company said today.

Rank-and-file staff at finance house Irish Life & Permanent have no confidence in senior management, union leaders warned today.

FINANCE Minister Brian Lenihan issued a short statement last night welcoming Denis Casey’s resignation after effectively forcing the Irish Life & Permanent chief executive to step down.

Finance house Irish Life & Permanent tonight bowed to pressure from the Government, accepting the chief executive's resignation.