independent

Thursday 17 April 2014

Junior bondholders' goodbye to €200m

JUNIOR bondholders who were suing Anglo for an estimated €200m in compensation are going to be "burned" by the decision to liquidate the bank.

They had already been hit by a "haircut" of up to 80pc on the money they provided to Anglo, meaning they got back only 20pc of their original funds.

But their chance of getting any more is now gone with the liquidation of the remaining parts of the bank known as Irish Bank Resolution Company (IBRC).

They will have to apply to the liquidator for funds, but they are classed as unsecured creditors.

Irish Independent

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