I propose to take Questions Nos. 191 and 192 together.
The Special Liquidators will fully comply with their reporting obligations and as such the liquidation accounts will be filed with the CRO after two years of the liquidation and yearly thereafter. These accounts will include detail on the costs, charges and expenses incurred by the Special Liquidators in that period.
As is normal in liquidations of companies, all costs, charges and expenses properly incurred by the Special Liquidators in relation to the winding up of IBRC, including the Special Liquidators’ fees, will be paid out of the assets of IBRC in priority to all other claims.
The Special Liquidators are responsible for maximising the recovery of the assets of IBRC for the benefit of its creditors. I am advised that the Special Liquidators are keenly aware of their obligations in that regard but that disclosure of commercially sensitive fees and expenses, beyond what is legally required, could potentially have a detrimental impact on the liquidation.