Aib Bongholders

beertons

Court decision on AIB bongholders due today




24/06/2011 - 07:39:27
The High Court is expected to decide today whether AIB is obliged to meet an interest payment on junior bonds that are the subject of a legal challenge.

The bond is held by US based investment firm Aurelius Capital which is opposing a move by the Government to impose losses on junior bondholders at the bank.

Aurelius is challenging a High Court order from April that pushes junior bondholders into selling bonds back to AIB for as little as 10% of their face value.

The idea is to raise capital and ease the load on the Irish taxpayer of bailing out the banks.

If Aurelius wins its case, interest on the bonds falls due tomorrow.

AIB has parked the money, £22m (€24.7m), in Citibank, but is due to ask the court today to suspend any interest obligation until this legal challenge is fully decided.

Read more: http://www.breakingnews.ie/ireland/court-decision-on-aib-bongholders-due-today-510214.html#ixzz1QApJJrFp

Caoimhín

I thought this was about bankers getting high.

Minstrel27

An unfortunate misspelling in the title. I too thought this to be about getting high in some way or another.

voz es

At least if they were high they would have had some excuse for the major f-up's AIB delivered

Emiko

On winning the case, Aurelius reportedly told AIB, ''Put that in your pipe and smoke it''.

gonedrinking

I've had one of those days where I could just curl up in a bong and die, I can sympathise with the AIB bongholders

jester77

Their debts must be high

MajorMax

Well we now know where they went wrong

Manager 1: Whooooo, I'm hungry and I don't know why.

Manager 2: Whooooo me too

Manager 3: Hey I'll take €3,500,000,000 out of petty cash and get some snacks in centra

tayto lover

They opened up some can-a-piss.