Irish firm A&L Goodbody has been instructed by KPMG to advise the Big 4 firm on the liquidation of the Irish Bank Resolution Corporation (IBRC).
A deal was sealed yesterday (7 February 2013) which enables the liquidation of IBRC, formerly the Anglo Irish Bank. KPMG has appointed A&L Goodbody’s head of restructuring David Baxter to lead the legal advice on the process. Banking head Ciarán Rogers is also involved.
IBRC was put into special liquidation early yesterday, after the European Central Bank agreed to exchange €25bn of promissory notes used to bail out Anglo Irish and the Irish Nationwide Building Society for long-term government bonds, saving the Irish state €20bn.
A&L Goodbody has picked up instructions on Ireland’s two largest restructurings to date. It acted for the senior lenders on the restructuring of telecoms company Eircom (25 July 2011) and for the Quinn Group on its €1.3bn restructuring in the same year.
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