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Buying Shares From an Irish Bank

Low Energy Eng · 2010-11-08 19:57:47

After reading MK's article today in the Irish Times I became a little more anxious about having cash savings. So my question, say a bank goes bust, proper bust, no government bailout... and I have shares, say in Gold/Silver/Chinese stocks etc, which I've bought through an Irish bank, do I loose my investment because the…

08-11-2010 7:57pm

#1

Low Energy Eng

Registered Users, Registered Users 2 Posts: 299 ✭✭

Join Date: August 2009

Posts: 290

After reading MK's article today in the Irish Times I became a little more anxious about having cash savings.

So my question, say a bank goes bust, proper bust, no government bailout... and I have shares, say in Gold/Silver/Chinese stocks etc, which I've bought through an Irish bank, do I loose my investment because the bank is gone or are the certs passed over to myself?

Thanks in advance

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Comments

#2 08-11-2010 10:20pm

ravima

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Posts: 822

If you hold the certs, then they can't be 'gone'. However, given the High Court ruling in the Morrogh case, if they are held in the nominee account, you are in trouble.

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