Enda Kenny slammed over broken IBRC promise

Taoiseach Enda Kenny has been criticised by Social Democrats TD Catherine Murphy for breaking his promise to bring emergency legislation in to rescue the Cregan inquiry into certain transactions at IBRC.

At the centre of the allegations are major write-offs by the bank of debt relating to 38 people, at a cost to taxpayers of €1.2bn. These huge right-offs are to be probed as part of the commission of investigation which is looking into Denis O’Brien’s Siteserv company, Millington, which saw the taxpayer hit with a €119m loss.

Under mounting pressure last year, the taoiseach was forced to order a commission of investigation into the sale of SiteServ and other transactions at the IBRC.