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Anglo Irish bondholders confident of final payout from lender

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The half-built Anglo Irish Bank office's building in the north Dublin docklands. Photo: Mark Condren

The half-built Anglo Irish Bank office's building in the north Dublin docklands. Photo: Mark Condren

The half-built Anglo Irish Bank office's building in the north Dublin docklands. Photo: Mark Condren

Unsecured bondholders of failed Anglo Irish Bank are increasingly confident of getting a final payout from the lender.

Since they were appointed in February last year, the special liquidators, Kieran Wallace and Eamonn Richardson, have liquidated the bulk of IBRC’s portfolio of loan assets which had a notional or face value of €22bn. The sales have raised more than expected, with €12.9bn already repaid to taxpayers.

Unsecured creditors, including the State as well as a handful of so-called junior bondholders that resisted being “burned” when the bank bought back its own debt at a discount, have been told to submit claims by March 31 next year, if they want to share in any final payout. 

“It’s obviously quite more likely there’ll be something left for various bondholders, including senior and subordinated bondholders,” bondholder Wolfgang Klopfer, of XAIA Investment, told Bloomberg yesterday.

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