Appointment of liquidators to Drumcondra Credit Union confirmed

A number of steps had been taken so far in the liquidation, including attending at the premises, closing its existing bank account, and opening a new liquidation account

Around 95% of credit union members had received payments in relation to their deposits under the Government's Deposit Guarantee Scheme which guarantees deposits of up to €100,000.

The president of the High Court has confirmed the appointment of liquidators to Drumcondra and District Credit Union in Dublin.

Ms Justice Mary Irvine granted orders sought by the Central Bank confirming the appointment of Stephen Tennant and Nicholas O’Dwyer of Grant Thornton who had been appointed joint provisional liquidators by the court earlier this month.