IBRC stands for Irish Bank Resolution Corporation
Wealthy professional classes are set to come under increased pressure as the IBRC attempts to recover hundreds of millions now due on money borrowed to invest in heavily loss-making property funds.
Many of these loans were taken out between 2005 and 2007, which means they are due to be repaid.
However, many of the property funds are heavily in the red, which is set to put even more pressure on already highly indebted barristers, solicitors, accountants, doctors, and other high net worth individuals.
The stakes are high for barristers in particular, because if a member of this profession is declared bankrupt, in some cases they could be barred from practising.
During the last few years of the property boom the private banking arm of Anglo Irish Bank was very active in lending to such individuals. These loans were subsequently invested in highly geared property funds, also put together by Anglo.
Many of the loans were issued on six-year terms, which means many are now due for repayment.