Judge appeals for second judicial appointment to IBRC investigation

Mr Justice Brian Cregan, chair of the commission investigating the wind-up of the Irish Bank Resolution Corporation (IBRC), has asked for a second judge to be appointed to help conduct the investigation.

The assistance of a second judge could expedite the complex investigation, which Mr Justice Cregan previously warned could take “several years” to complete.

It is thought that the investigation could take seven or eight years if completed by Mr Justice Cregan on his own.

A draft interim report which includes the judge’s concerns over timescale is due to be sent to the Taoiseach and others who are named in it.

The commission is examining 37 transactions involving write-offs worth more than €10 million, but has stumbled over whether it can consider sensitive financial documents held by the Department of Finance and KPMG as evidence.

KPMG has asserted a duty of confidentiality over all of the documents it provided to the commission, and legal advice privilege over all documents containing legal advice. The Department of Finance has made similar claims over some of the documentation it has provided.

The Department of Finance last night issued a statement stressing that it had not asserted a duty of confidentiality over its own documents.

It explained: “The department had received confidential information from various sources outside the department and this information was confidential at the time of receipt.

“This confidentiality remained in place when such documentation was sent by the department to the commission.”