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Finance union meets IBOA liquidator

Monday, February 11 16:20:41

The IBRC special liquidator, Kieran Wallace, has today met representatives of finance union, the IBOA to discuss the future of nearly 1,000 jobs in the bank.

The union is seeking clarification of the position of workers in IBRC, who were advised by e-mail last week 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 of the liquidation and that they should continue to work normally," said IBOA leader, Larry Broderick.

"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."