Emergency legislation to liquidate the former Anglo Irish Bank has been rushed through the Dail overnight - ahead of an expected announcement on bank debt deal for Ireland today.
President Michael D. Higgins has signed the Irish Bank Resolution Bill 2013 in to law at Aras an Uachtarain this morning.
The Finance Minister's admitted he nearly had to move several times in recent months to liquidate the Irish Bank Resolution Corporation.
Michael Noonan says he was forced into liquidating the bank in a dramatic late night Dáil sitting because he wasn't able to deny media reports that this was what he intended to do.
He says while there was no specific threat to 14 billion euro worth of assets, he needed to act before the Courts open later this morning.
A deal on the promissory notes is now expected to be announced later today, with An Taoiseach Enda Kenny having referred to it in his Dáil speech.
Páraic Gallagher reports from Leinster House...........
Sinn Fein's Pearse Doherty has criticsed the government's decision to rush the legislation through the Dail in the middle of the night..........