IBRC liquidator to meet finance union

Issued : 7 February 2013

The IBRC special liquidator, Kieran Wallace, has agreed to meet representatives of IBOA The Finance Union within the next few days - following a request by Union General Secretary, Larry Broderick.

The Union is seeking clarification of the position of workers in IBRC, who were advised by e-mail today that their contracts of employment had been terminated with the appointment of the liquidator.

"They were advised that they were being placed on a rolling monthly contract which would honour their basic terms and conditions during the period the liquidation and that they should continue to work normally," said the IBOA leader.

"As the workers have received no indication as to what the future holds for them if and when the assets of IBRC transfer over to another entity (probably NAMA), the Union is keen to ensure that certainty is provided for these workers as soon as possible. We are also seeking engagement with the Department of Finance and also with NAMA, in the likely event that it acquires IBRC's assets.

"In the meantime," said Mr. Broderick, "we salute our members' determination to work through the current turmoil - for the company and for them personally - in an effort to ensure that the business continues to function to the benefit, ultimately of the taxpayers who own IBRC."