Judge appointed to monitor conflicts of interest in Siteserv sale review

Judge Iarfhlaith O'Neill has been appointed to monitor conflicts of interest in the IBRC transaction review.

The Minister for Finance has also announced the Terms of Reference for a review of certain transactions carried out by IBRC, prior to the appointment of the Special Liquidators.

Minister Noonan said it will look at the Siteserv transaction and other deals undertaken by IBRC between January 21, 2009, the date of its nationalisation, and February 7, 2013, the date of the appointment of the special liquidators to IBRC.

The review will cover transactions that resulted in a capital loss to IBRC of at least €10m during that period; or are specifically identified by the special liquidator as likely to give rise to potential public concern, in respect of the ultimate returns to the taxpayer.