Enda Kenny announces deal on Anglo-Irish debt with European Central Bank

A man removes a sign from Anglo Irish Bank

The accountancy firm KPMG will take charge of the liquidation.

Finance Minister Michael Noonan said: “They had all their arrangements in place as well with people ready to protect IBRC assets in New York, Dublin and London.

“But there were several scares in the past few months when there were substantial leaks which could have meant acting sooner.

“The board of IBRC was also kept in the dark for legal reasons. While there were a lot of people in the loop of knowledge, IBRC weren’t.”

The Bill to liquidate Anglo Irish Bank was passed with the support of Fianna Fail and the majority of independents.