Irish Bank Resolution Corporation

What Irish Bank Resolution Corporation does

Irish Bank Resolution Corporation Limited (IBRC) is a special-purpose resolution vehicle created in 2011 to wind down the assets and liabilities of Anglo Irish Bank Corporation plc and Irish Nationwide Building Society following the Irish financial crisis. It is registered in Ireland (Company No. 22045) as a private limited liability company and operates under the consent and supervision of the Central Bank of Ireland pursuant to Regulation 17(4) of the European Communities (Reorganisation And Winding-Up of Credit Institutions) Regulations 2011. Since its inception it has been managed by Joint Special Liquidators Kieran Wallace and Eamonn Richardson, with no active commercial operations.

The entity has no operating business, no products, no technology platform, no distribution channels, and no marketing activity. Its only residual function is the administrative processing of deeds of release and e-discharges related to redeemed residential mortgages previously held by its predecessor institutions, until the Special Liquidation concludes. The company's websites have been discontinued, and IBRC has publicly notified counterparties that liquidation is expected to be completed in the coming months, after which the entity will be dissolved.

There is no revenue model, pricing structure, or customer base to assess. The economic activity that remains consists of residual asset realization for the benefit of creditors and the orderly resolution of legacy obligations. IBRC is not a going concern and has no employees in a commercial operating sense; the "headcount" classification of 251-500 reflects the historical headcount of the predecessor institutions rather than an active workforce.

Name

Irish Bank Resolution Corporation

Legal name

Irish Bank Resolution Corporation Limited (in Special Liquidation)

Website

https://ibrc.ie

Company type

Private

Operating status

Closed

Headcount range

251–500 employees

Short description

Irish Bank Resolution Corporation Limited (IBRC) is an Irish special-purpose resolution vehicle, created in 2011, currently in Special Liquidation to wind down Anglo Irish Bank and Irish Nationwide Building Society, with dissolution expected imminently.

Ownership category

akta.pro rank

Headquarters

HQ city

Dublin

HQ country

Ireland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Others

Core offering

Irish Bank Resolution Corporation Limited (IBRC) is a financial institution in Special Liquidation that was formed in 2011 to manage the resolution of Anglo Irish Bank Corporation plc and Irish Nationwide Building Society following the Irish financial crisis. Its sole remaining activity is processing requests for deeds of release and e-discharges for redeemed residential mortgages previously held by its predecessor institutions, with the entity expected to be dissolved upon completion of the liquidation.

Product overview

Irish Bank Resolution Corporation Limited (IBRC) was a banking institution that is currently in Special Liquidation. The company is not operating as an active product or service provider. Its remaining functions are administrative in nature, limited to processing requests for deeds of release and e-discharges related to redeemed residential mortgages from its former operations (Anglo Irish Bank Corporation plc and Irish Nationwide Building Society). The Special Liquidation is expected to conclude in the coming months, after which IBRC will be dissolved.

Differentiator

Problem solved

Functional benefit

Products and services

• Deed of Release and E-Discharge Services Processing and execution of deed of release and e-discharge requests for redeemed residential mortgages previously held by Anglo Irish Bank Corporation plc/IBRC or Irish Nationwide Building Society, provided to former borrowers and their legal representatives during the Special Liquidation process.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights1 record

Direct peers

• National Asset Management Agency (NAMA): Ireland's 'bad bank' established in 2009 to acquire and resolve distressed property loans from Irish banks following the financial crisis. Directly comparable as a state-mandated wind-down vehicle created in the same Irish crisis-era bank-resolution framework as IBRC.
• Anglo Irish Bank Corporation plc (predecessor): The predecessor entity to IBRC, whose failure in 2008 and nationalisation created the resolution that became IBRC. Historically a peer in commercial and mortgage lending, now absorbed into IBRC.
• Irish Nationwide Building Society (predecessor): Building society merged into IBRC's resolution in 2011. Directly comparable as a failed Irish financial institution whose estate is being administered within IBRC's Special Liquidation.
• Kaupthing hf (in liquidation): Icelandic bank placed into winding-up proceedings in 2008 following the Icelandic financial crisis. Comparable cross-border peer as a failed bank whose estate has been administered under special resolution regimes for over a decade.
• Landsbanki (in winding-up): Another Icelandic bank whose resolution estate has been administered since 2008 under a Winding-Up Board. Comparable as a peer crisis-era bank in extended run-off under special resolution, similar in structure to IBRC's Special Liquidation.
• Lehman Brothers International (Europe) – in administration: UK administration of the European arm of Lehman Brothers since 2008, run by PwC. Comparable as a long-running special-administration case for a failed cross-border financial institution.
• BCCI (in liquidation): Bank of Credit and Commerce International, whose global liquidation under Deloitte and others has run since 1991. The most enduring analogue for a multi-decade, multi-jurisdictional failed-bank estate wind-down.

Broad incumbents

• Allied Irish Banks (AIB): Major Irish retail and commercial bank that required state recapitalisation during the same 2008–2010 crisis that led to IBRC's creation. Comparable as a surviving Irish banking peer with overlapping mortgage and deposit franchises.
• Bank of Ireland: Ireland's largest indigenous bank and one of the two systemically covered institutions during the same crisis period. Comparable incumbent Irish bank with overlapping mortgage lending and resolution-era exposure.
• Permanent TSB: Irish state-supported bank that, like IBRC's predecessors, came through the 2008 crisis requiring restructuring. Comparable incumbent with significant legacy mortgage book originating in the same period as INBS and Anglo Irish.

Market position

Strengths2 records

Weaknesses3 records

Competitive moat1 record

Key risks5 records

Key highlights3 records

Customer concentration

• LinkedInlinkedin.com/company/ibrc

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Irish Bank Resolution Corporation