Friday 20 September 2019

Taoiseach: 'I don't see any circumstances where junior Anglo bondholders will be paid'

An Taoiseach Enda Kenny
An Taoiseach Enda Kenny

Niall O'Connor

TAOISEACH Enda Kenny says he does not see "any circumstances" in which junior bondholders will be paid following the liquidation of the former Anglo Irish Bank.

Mr Kenny is among a raft of government figures who have today moved to play down the prospect of a payout for junior bondholders.

Finance Minister Michael Noonan sparked speculation last week that such a move was on the cards in the event if the liquidation of the financial institution now known as the Irish Bank Resolution Corporation (IBRC).

But speaking today, Mr Kenny poured cold water on the prospect of such a payout.

"I do not see any circumstances, any circumstances, in which junior bondholders would be paid in the liquidation of IBRC," he told reporters at a Fine Gael event in Dublin.

Health Minister Leo Varadkar and junior finance minister Simon Harris also moved to rule out paying junior bondholders.

And Transport Minister Paschal Donohoe said junior bondholders were "at the very bottom of the pile" of creditors seeking money. He said it was very unlikely they would be paid.

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