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IBRC Legal Cases

Dáil Éireann Debate, Tuesday - 20 November 2012

Tuesday, 20 November 2012

Questions (175)

Pearse Doherty

Question:

175. Deputy Pearse Doherty asked the Minister for Finance if the statute of limitations applies to the Irish Bank Resolution Corporations repayment of overcharged Anglo Irish Bank customers. [50851/12]

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Written answers

The issue of whether or not the statute of limitation applies to any specific scenario is a legal question, to be determined by a Court on the basis of the relevant legislation, the specific fact set and applicable timelines. I have been informed that following the Bank’s historical interest rate review project, undertaken in 2010, a decision was taken by the Bank not to rely upon the Statute of Limitations as a defence to any of those claims, even in circumstances where a valid claim for reimbursement of overcharged interest appeared to be out of time. However, the Bank is entitled to rely on the Statute of Limitations in certain circumstances as a defence to certain other claims.

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