Tenders for the post of legal adviser to the Government on the sale of ICC Bank are due to be submitted to the Department of Finance by today.

This will be the second round of tenders for the job following the withdrawal of the winner of the first round - solicitors Arthur Cox - due to a conflict of interest. Arthur Cox would not comment when contacted earlier this week.

When the firm informed the Department of its inability to act, all of the parties who had submitted proposals had to be asked to make second presentations. This process is now well under way, with today the closing date. Department sources say a decision will be made quickly on a new adviser so that the sale process can go ahead. The Department has appointed ABN-Amro as financial advisers to the sale.

ICC has appointed its own advisers: its financial adviser is HSBC Investment Bank, while its legal adviser is Matheson Ormbsy Prentice. There is considerable buyer interest in ICC Bank. Bank of Ireland, Irish Life and Permanent, and Irish Intercontinental Bank are among the institutions which have confirmed their interest in acquiring the State-owned operation.