The Irish Bank Officials Association has claimed that IBRC staff based in the UK have not had their contracts terminated under the bank’s liquidation as the legislation passed last week does not apply outside the Republic of Ireland.

IBOA General Secretary Larry Broderick was speaking after meeting IBRC liquidator Kieran Wallace to discuss the implications of the liquidation for staff.

Mr Broderick said Mr Wallace had confirmed that he was not in a position to implement the liquidation there.

Mr Broderick said those employees remain as IBRC staff on their existing terms and conditions, and their employment would not be terminated.

He said they were now faced with a situation where staff in the UK were continuing to work as normal, while staff in the Republic had had their employment terminated.

In light of that, Mr Broderick urged the Government to look again at the position of staff in the Republic.

Mr Broderick described the meeting as quite constructive.

He said Mr Wallace had given a very firm commitment that all staff would be put back on their existing terms and conditions of employment.

However, he said that they had had a "robust" exchange about the fact that staff were only receiving statutory redundancy.

He said the liquidator had indicated that he would not honour an agreement between the IBOA, IBRC and the Government - as that was not within his remit.

Under previous redundancy agreements, staff would receive four weeks pay per year of service, rather than statutory, which gives staff two weeks per year of service capped at €600 per week.

He said that was a matter which they would take up directly with the Government.

The union will meet the liquidator again later this week.