Irish Bank Resolution Corporation

autonomy

thejournal.ie

''THE NAMES ANGLO Irish Bank and Irish Nationwide Building Society (INBS) are no more after the assets and liabilities of the latter were transferred to the former with immediate effect today.
The newly-merged bank will now be known as the Irish Bank Resolution Corporation, reports the Irish Times, following an order by the High Court under the Credit Institution Act 2010.
The Wall Street Journal has outlined the the terms of the deal which will see the assets and liabilities of INBS transferred including the management of its commercial loan book on behalf of the National Asset Management Agency (NAMA) and all remaining commercial and mortgage banking operations.
All mortgage holders previously with Irish Nationwide will now have their loans transferred to Anglo Irish under the same payment conditions and in line with existing terms and conditions.
All INBS employees have automatically transferred to Anglo, with their terms and conditions of employment safeguarded in accordance with applicable employment legislation.''

Is this the new name that may be central to the next destruction of the Irish banking sector?

Poor Uncle Tom

autonomy wrote: »

be central to the next destruction of the Irish banking sector?

We've not had the first destruction yet, the fu**ers are all still alive and well, none of them saw a day inside.

Liam Byrne

"resolution" ?

Case for the Trades Description Act to be invoked, methinks.

They should have simply called it The Cesspit or The Millstone.

orourkeda

I like cake

Grimreaper666

It's a bit like Sellafield, Windscale really, new name, same sh!te. I wonder how much the name change cost "us"?

Cicero

Has it been resoluted or not?- it cant' be that difficult a question at this hour

Needler

Topaz will always be Shell to me. No matter how much they spend on rebranding. Same goes for Anglo

Kojak

What's changing the name going to do? Maybe the powers that be might be thinking "Oh, people will see this new and innovative name and want to invest in us". But in reality people should be thinking "Why should I fúck my hard earned money into that black hole of a bank, and never see it again"

This Coroporation name will always be Anglo - putting a new name over the door doesn't change the fact that they almost crippled the country. They should never be allowed to forget this, no matter how much they would like to.

ascanbe

They could've just created a 'good' bank and a 'bad' bank; that's the kinda brilliant thinking that has served us so well, thus far.
Call the bad-bank 'An' and the good bank 'glo'.
It wouldn't make a difference to the facts and figures, of course, and we'll still be following a path that, at best, will leave this country's economy moribund for a decade or two but, hey, our leader's will have least split one word and one entity in two, which is something.
Our previous government even managed to invent a new word/acronym while splitting a private entity that they made the state responsible for in two: NAMA.
And that, as everyone can attest, is working wonderfully.
There's no limit to what our leaders can achieve, when given the chance.

Son Of A Vidic

Doesn't this just make everything better now. :rolleyes:

ascanbe

Corvus Maximus wrote: »

Doesn't this just make everything better now. :rolleyes:

If you're referring to my post, the :rolleyes: is unnessecary as it is inherent to what i wrote; the very basis of it, in fact.

Son Of A Vidic

ascanbe wrote: »

If you're referring to my post, the :rolleyes: is unnessecary as it is inherent to what i wrote; the very basis of it, in fact.

Jesus Christ man will you relax, I never even seen your post until I submitted my own. I was probably constructing my post during your submission, so it's no more sinister than that. This :rolleyes: was directed at our incompetents running the country. So in that regard I don't share your faith in them.

ascanbe

Corvus Maximus wrote: »

Jesus Christ man will you relax, I never even seen your post until I submitted my own. I was probably constructing my post during your submission, so it's no more sinister than that. This :rolleyes: was directed at our incompetents running the country. So in that regard I don't share your faith in them.

Oh, ok, sorry. I am perfectly relaxed, though; vented my spleen in my post.
Had a feeling i may have been jumping the gun on your post, and that it may not have been directed towards mine, but left that reply anyway; i blame the drink for that and absolve myself of all responsibility.

thebman

ascanbe wrote: »

Oh, ok, sorry. I am perfectly relaxed, though; vented my spleen in my post.
Had a feeling i may have been jumping the gun on your post, and that it may not have been directed towards mine, but left that reply anyway; i blame the drink for that and absolve myself of all responsibility.

Just like the people who work/worked in Anglo!! :pac:

Naikon

Resolution my arse.