Dáil Éireann Debate, Tuesday - 15 April 2014
199. Deputy Eoghan Murphy asked the Minister for Finance if the better than expected sale of Irish Bank Resolution Corporation assets will result in improved redundancy conditions for former staff of IBRC, as originally provided for upon the establishment of IBRC and prior to these terms being changed to facilitate the wind-down of IBRC. [17809/14]
View answerI have been advised by the Special Liquidators that, as in any liquidation, the employees of IBRC were entitled to apply for a statutory redundancy payment, a payment in respect of accrued but unused annual leave and a statutory notice payment, subject to the limits prescribed by statute. The Special Liquidators confirm that employees have now received these payments.
The option to support the previous severance terms of employees is not a choice available to the Special Liquidators as the level of redundancy payments for employees is prescribed by statute.
