The liquidation of the former Anglo Irish Bank remains on track to cost just a fraction of the original plan to wind-up the IBRC.
A report to the Minister for Finance from the special liquidators shows all assets will be sold by year end and staff will have been let go. But the liquidators will have to remain on until a number of legal cases are finished.
Winding up the toxic bank was a mammoth task. It was unprecedented in Irish corporate history and the biggest loan sale in the world last year and this year.
Now the costs - of about €120 million - are becoming clear. But that is a fraction of the €1.1 billion cost put on winding up the former Anglo and Irish Nationwide by 2020.
The liquidators have sold 90% of the loan book at €21.7 billion, and will have repaid the special funding facility from NAMA by the next quarter.
The other 10%, which includes 6,500 mortgages, are to be sold by the end of the year.
The liquidators will not be able to wind-up their operation though until legal cases end - including the Quinn case next year and on-going attempts to get the €1 million bonus back from Michael Fingleton.
The liquidators have had success in selling all assets such as buildings and 134 lots of artwork - with the exception of four paintings and all those Anglo Irish Bank golf balls which have yet to be flogged.
