IBRC liquidators consider bids for mortgage bookFriday 14 March 2014 18.16
The liquidators of IBRC are examining bids for the €1.8bn mortgage portfolio after final offers were received in advance of a deadline today.
Among the bidders are Texas-based private equity group Lone Star, which has offices in Dublin and has been snapping up Irish property assets in recent months.
Lone Star has already bought the majority of a €7 billion portfolio of British loans which were sold by the liquidators.
Another bidder for the mortgages is understood to be Appollo Global Management. It has already bought some of the loans of Dublin department store Arnotts at a significant discount.
Two other bidders who are understood to be interested in the IBRC mortgages are California equity house Oaktree and US fund CarVal.
The mortgages were originally issued by Irish Nationwide.
The liquidation is being run by KPMG accountants Kieran Wallace and Eamonn Richardson, who were recently called to appear at an Oireachtas Finance Committee.
The sale of the home loans has been highly controversial.
Following intense political pressure the liquidators recently announced the bidders for the mortgage had agreed to follow a code of conduct on mortgage arrears in the event that they buy the loans.