Government urged to delay decision on how to proceed with IBRC inquiry

The Government has been requested not to make a decision on how to proceed with the IBRC investigation until an interim report is complete.

Minister for Finance Michael Noonan said the judge contacted the Department of the Taoiseach this morning.

Mr Brian Cregan asked the Taoiseach to give him time to distribute an interim report and to consider observations from interested parties, Mr Noonan said.

He said: “He requested the Government would not take a decision this morning on a course of action.

“The work of the Attorney General continues and it is a question of taking a final decision after some consultation with Judge Cregan to establish what precise type of change would meet his requirements.”

Mr Noonan said he expects the interim report would be issued sometime next week. The Cabinet discussed the controversy surrounding the former Anglo Irish Bank investigation on Tuesday – however, it is understood no decisions were taken on how to proceed.

Sources said further work will be undertaken to assess what additional powers need to be provided to allow Judge Brian Cregan complete his work.

He believes he has insufficient powers to determine how the Commission of Investigation – which is investigating asset disposals by the IBRC involving writedowns of €10 million or more – can deal with sensitive financial documents.

Before the Cabinet meeting on Tuesday, Minister for Public Expenditure and Reform Brendan Howlin said he understands ex-Irish Bank Resolution Corporation (IBRC) chairman Alan Dukes' concerns about delays in the investigation.

Mr Dukes has said the right of IBRC directors to their good names was being prejudiced by the impasse reached by the

“I understand. If I was a director of IBRC and I’d worked in good faith taking on a difficult job I would want to make sure that my name is fully vindicated,” Mr Howlin said. “And that’s what a tribunal of inquiry does. That’s why I would ask people not to rush to judgement, including the media.”

Mr Howlin was speaking on his way into Tuesday's Cabinet meeting, where Attorney General Maire Whelan was to outline what legal options are available to address the issues raised by chair of the commission Judge Brian Cregan.

Mr Howlin said the Government was determined to help resolve the problems that had been flagged.

“My experience in 30 years of politics is that most issues are addressable when there is a determined effort put into it,” he said.

Asked if the problems should have been foreseen, he said the issue of confidentiality arose in every tribunal of investigation. “I think it would have been reasonable to assume that the vehicle that has been so successful on so many occasions would have been successful on this occasion but issues have arisen,” he said.

Asked if the investigation would conclude before the general election, Mr Howlin said it was not for Government to set the timeframe for an independent inquiry.

He was sure the investigation had been busy for the last five months.

He was sure the work already done would not go to waste.