Demise of IBRC triggers openings

The Government's decision to liquidate the Irish Bank Resolution Corporation has, among other matters, created the need to find replacements for former IBRC executives who served on the boards of companies linked to the bank's business.

Richard Woodhouse, who was so heavily involved in the clash with the Quinn family, among other duties at the bank, has recently resigned as a director of Tutelana Ltd, a company involved in the handling of the Quinn Insurance debacle.

The company's other director, Mark Layther, has also resigned from the two-director board.

When the joint administrators of Quinn Insurance agreed to sell its Irish business to Liberty Mutual, the purchaser was Liberty Mutual Direct Insurance Company Ltd, which is a joint venture between Liberty Mutual and Tutelana, with the latter being a joint venture between IBRC and Quinn Insurance. The sale transaction involved a significant investment by Tutelana in the purchaser.

Woodhouse and Layther have been replaced by accountant Jack Gleeson, who has been appointed to a number of IBRC companies, and Helen Keelan, whose other directorships include Project Management Holdings, Barclays Bank Ireland and Liberty Mutual Investments.