The Joint Special Liquidators of IBRC have said they expect the liquidation of IBRC should be substantially completed by the end of 2022.
The total cost of the liquidation will come to between €291m-€306m, according to the fifth Progress Update Report on the Special Liquidation of IBRC.
However, the report added that the expected completion date is subject to change depending on future events which are outside the control of the liquidators.
Today's report states that the number of IBRC staff has been reduced from 1,100 to just two - as at 6 February 2018.
The Joint Special Liquidators said they intend to make a further dividend announcement before the end of this year with the continued expectation that the eventual unsecured creditor dividend will be in the range of 75%-100% of all eligible claims.
However, the ultimate level of dividend paid to each creditor cannot be known until all remaining tasks have been completed, they added.
In December 2017, the Joint Special Liquidators of IBRC -Kieran Wallace and Eamonn Richardson - began issuing a second interim dividend payment of 25% to admitted unsecured creditors of IBRC bringing the total dividend paid so far to 50%.
The Minister for Finance Paschal Donohoe said the latest Progress Update Report continues to highlight the progress being made by the Joint Special Liquidators in winding up IBRC.
Mr Donohoe thanked the Joint Special Liquidators and their staff who have worked on this project over the past five years.
"I am confident that their remaining work on this liquidation will be completed with the same effort as has been shown since the outset of the liquidation," the Minister added.
