As part of the role of the liquidators, the assets of IBRC will be valued independently before being sold. Any assets not sold to third parties (including loan counterparties and other financial institutions) at or above the valuation price will be sold to NAMA at the independent valuation. The Special Liquidators are still in the process of devising and implementing a sales process in respect of IBRC’s assets including the mortgage portfolio. I have been advised that the Special Liquidators are in the process of obtaining suitable independent professional advisors who shall employ standard valuation methodologies appropriate to each class of asset of IBRC.
The Special Liquidators anticipate having the valuations of the loan books completed by the end of June 2013.