A nationalised Irish bank that mainly deals with business and commercial banking. The bank lent heavily to property developers meaning that it was badly affected in the downturn of the property market in 2008, this resulted in the Irish government buying 75% of the bank for €1.5 billion in December 2008 to save the bank. On the 30th of September 2010 the Government announced that the estimated total cost of bailing out the bank would be in the region of €30 billion.
The Irish Bank Officials Association is now telling its members at IBRC to cooperate with NAMA if they are interested in roles there having previously said it was “imperative” that they did not cooperate.
Staff at the former Anglo Irish Bank have seen previously agreed redundancy packages invalidated following the dramatic liquidation of the financial institution in February.
With over 24 million documents and a court case that could take over six months, the availability of jurors and their understanding of this complex trial is being flagged by legal professionals. Nuala Haughey explores the future of juries in white collar crime cases.
Since the bank formerly known as Anglo Irish Bank was liquidated last month ordinary workers have been left in the dark as to their fate and that of redundancy packages they’d agreed prior to ‘promnight’. Here, an employee speaks out…
Labour has had to make some tough choices in government but, as a result, Ireland can be more confident about its future, writes Tánaiste Eamon Gilmore.
It was dramatic, chaotic, uncertain and very confusing as Ireland struck a deal to tear up the promissory notes and repay Anglo’s debts over a longer period. Here’s how it unfolded…
The government argues that swapping the €3.06 billion annual payments for long-term bonds is the best we could have got, but others argue we’re still paying the debt. What do you think?
The restructured debt obligation will give the Government fiscal space and breathing room. Whether this benefits the young depends on what they do with that time, writes Sam Brazys.
David Hall says his case concerns issues wider than that of the €3.06 billion payment due in March that now appears unlikely following the liquidation of IBRC overnight.
David Hall’s legal challenge to the €3.06 billion Anglo promissory note was dismissed by the High Court last week but he intends to appeal to the Supreme Court this morning despite the overnight developments.
TDs will reconvene after 10pm tonight to discuss plans to transfer IBRC’s assets to NAMA – as part of a deal to replace the promissory notes with long-term Government bonds.
The Fianna Fáil finance spokesperson has called on Michael Noonan to hold face-to-face negotiations with the European Central Bank president after he wrote to him last month.
You have been and will be hearing a lot about promissory notes in the coming weeks but what’s it all about? We’ve taken your questions, come up with some of our own and asked the experts…
Do our politicians have it in them to say no more, asks writer and journalist, Nick Webb, who gives his ideas on what should be top of the politician’s to-do list.
The Dublin businessman David Hall had taken a case against the State arguing that the issuing of the €31 billion promissory notes to the former Anglo Irish Bank is illegal as there was no Dáil vote.
It’s back on the agenda as the Irish government seeks a deal to avoid paying back €3.06 billion due in March, but what do you want to know about those pesky promissory notes?
Leo Varadkar and Pat Rabbitte have both insisted that the discussions on reducing the burden of Ireland’s bank debt will continue despite a report that the ECB had rejected a key Irish government proposal.
Tánaiste Eamon Gilmore will address world leaders – including Angela Merkel – in Chile today as hopes for a deal on Ireland’s bank debt took a blow last night and the opposition criticised the government’s lack of openness.
A MOTION OF no confidence in the Minister for Justice will be debated in the Dáil next week with Fianna Fáil claiming Alan Shatter’s position is now “untenable”.
The opposition party has been fiercely critical of the Fine Gael deputy’s handling of an ongoing row with Independent TD Mick Wallace.
“The Minister has shown extremely poor judgement of late. In particular, he used private information he received from the Garda Commissioner to undermine an opposition TD on Prime Time last week,” Niall Collins charged.
Shatter is currently facing two investigations by the Data Protection Commissioner and the Standards in Public Office Commission over his actions. He was also forced to clarify the nature of an incident where he was breathalysed by gardaí but could not complete the test because of asthma.
Although the motion of no confidence is unlikely to pass (as the government can table a counter-motion), TheJournal.ie wants to know what you think. Is Alan Shatter’s position as minister untenable?
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