Dáil debating emergency legislation to liquidate IBRC - The Irish Times - Thu, Feb 07, 2013: "I vested the powers of the Board temporarily in an employee of KPMG and a KPMG team is now in control of the Bank on my behalf," he said.
"Once the legislation is passed joint Special Liquidators will be appointed to IBRC with immediate effect to wind up its business and operations."
"It is intended that the net debt owed by IBRC to the Central Bank and its associated floating charge security will be purchased by NAMA, using NAMA bonds, in a way that ensures that there is no capital loss for the Central Bank. The Ministerial Guarantee underpinning the net debt owed to the Central Bank will also be transferred to NAMA. Eligible depositors, bondholders and counterparties will be repaid under the Deposit Guarantee Scheme and Eligible Liabilities Guarantee Scheme," he added."?
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