Friday 19 January 2018

RTE report says businessman Denis O’Brien asked for more time to repay debt to IBRC

Denis O’Brien has initiated legal action against the State
Denis O’Brien has initiated legal action against the State

Ailish O’Hora

RTE has published a version of a story it had prepared about businessman Denis O’Brien’s dealings with IBRC following a High Court decision that it could go ahead with the content because most of the information is now in the public domain.

RTE said today that all but two paragraphs of the original story, due to be broadcast on May 1 last, have now been published.

The RTE story alleges that Mr O’Brien asked for more time to pay repay debts to IBRC following on from a verbal agreement between the businessman and the former bank chairman Mike Aynsley.

Read more here: Planned RTE broadcast on Denis O'Brien and IBRC may proceed 

It said that Mr O’Brien was seeking an extension of €320m of loans with the bank a month after it was put into liquidation in February 2013.

At that stage, Mr O’Brien had already repaid €525m of his borrowings, according to the report.

The RTE story refers to “protracted correspondence” between the bank and Mr O’Brien.

It also says that IBRC believed that “its situation had been weakened” by Mr O’Brien’s assertion of a verbal agreement.

According to RTE, the documents it obtained did not show how the issue was resolved.

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