The Special Liquidators have been appointed for the purposes set out in the IBRC Act 2013 and are subject to the duties and obligations set out in that legislation. In addition the Special Liquidators are also subject to the restrictions and obligations as set out in the Special Liquidators engagement. As accountants, appointed as Special Liquidators, normal professional standards apply to all conduct. Independent third parties are being engaged to value the loan assets of IBRC (in Special Liquidation). The appointment of independent third parties ensures that the valuation and sales process is managed without improper influence or conflict of interest. Should a bid not be received that is equal to or in excess of the independent valuation obtained, the loan will transfer to NAMA at the independent valuation price.