Legal bids against IBRC to proceed

The Government looks set to row back on its controversial strategy of cutting the legs from legal challenges that have been taken against the liquidated IBRC.

The special liquidator for the bank admitted there were issues with the newly implemented law that stopped legal proceedings from continuing against the dead financial institution.

The liquidator, Kieran Wallace of KPMG, told the Sunday Business Post there were matters that needed to be resolved if, as it stands, IBRC could continue to take cases against individuals but the new law prevented reciprocal actions.