Doherty calls for Commission to investigate alleged deal between Denis O'Brien and IBRC liquidators

The Dáil has heard new claims that IBRC's liquidators were involved in a major agreement with Denis O'Brien - which will not be investigated by a Commission of Investigation.

Sinn Fein TD Pearse Doherty said that the liquidators agreed a loan facility of €315m with the businessman - nine months after the bank was put into liquidation.

He claims that this agreement came after the liquidators had rejected three earlier attempts by Mr O'Brien to renegotiate his loans, and after O'Brien had threatened legal action forcing the liquidators to honour an alleged verbal agreement with the bank's former chief executive.

Deputy Doherty said that the terms of reference for the IBRC inquiry need to be amended to investigate his claims.

"Let's be clear about it - this is a €315m loan, that was extended, and as I said, is the same as issuing a new loan, on the basis of an apparent verbal agreement despite its rejection on three separate occasions by the group credit committee of a version of the same proposal," he said.

"How is this not relevant to the inquiry?"