Sunday 22 July 2018

State to get bulk of €280m Anglo payout

Workers remove the signage outside Anglo Irish Bank’s HQ in 2011
Workers remove the signage outside Anglo Irish Bank’s HQ in 2011

The Government will pick up the bulk of a €280m payout from the liquidators of the former Anglo Irish Bank in the coming weeks.

The lion's share will go to taxpayers.

Others in line to claw something back include trade creditors left out of pocket when the bank was placed into liquidation in February 2013.

Remaining Anglo bondholders, who refused to take a smaller payout when most so-called junior lenders were "burned" by IBRC, are not in line for the current payout.

The Joint Special Liquidators of IBRC, Kieran Wallace and Eamonn Richardson, have sold off the bust bank's assets. The vast bulk of the €34bn Anglo Irish Bank bailout will never be recouped.

Irish Independent

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