Dáil Éireann Debate, Tuesday - 5 February 2013
248. Deputy Pearse Doherty asked the Minister for Finance if he will set out in tabular form the list of legal actions initiated by the holders of subordinated or senior bonds in the covered banks; the date the action was initiated; the identity of the applicant or applicants; the identity of the respondent and the jurisdiction in which the action has been initiated. [5295/13]
View answerThe covered institutions have supplied the following information in response to the Deputy's questions: PTSB has informed me that no legal actions have been initiated by the holders of subordinated or senior bonds in respect of PTSB. AIB has informed me that one claim has been initiated by a New York based entity. It commenced litigation in the United States District Court for the Eastern District of New York against AIB arising out of the Liability Management Exercise in May 2011. The claim was dismissed by the New York courts in August 2012 on the grounds that New York was not the appropriate jurisdiction in which to bring proceedings. All relevant disclosures in respect of this case are publicly available through New York District Court website www.nysd.uscourts.gov. BOI has informed me that in its published financial reports, shareholder circulars and prospectuses, which are all available on the Bank of Ireland website, it provides appropriate disclosures concerning material litigation related issues. IBRC has informed me of the following cases and details:
|
Proceedings |
Date Commenced |
Plaintiff/ Applicants |
Defendant/ Respondent |
Jurisdiction |
|
Assenagon Asset Management v IBRC 2012/2264; HC11C01320 |
15 April 2011 |
Assenagon asset Management SA |
IBRC |
England & Wales |
|
Enid Investment Corporation v IBRC 2012/2989; HC12B03156 |
3 August 2011 |
Enid Investment Corporation |
IBRC |
England & Wales |
|
Fir Tree Capital Opportunity Master Fund LP and Fir Tree Value Master Fund LP v Anglo Irish Bank Corporation Limited (formerly Anglo Irish Bank Corporation Plc) Civil Action No.11/CV/0955 |
9 March 2011 |
Fir Tree Capital Opportunity Master Fund LP and Fir Tree Value Master Fund LP |
IBRC |
United States District Court – Southern District of New York United States Court of Appeal for the Second Circuit. |
