Dáil Éireann Debate, Wednesday - 13 February 2013
59. Deputy Pearse Doherty asked the Minister for Finance if he will clarify the way outstanding bonds in Irish Bank Resolution Corporation will be dealt with as part of the liquidation announced on 6 February 2013. [7726/13]
View answerCertain bonds outstanding in Irish Bank Resolution Corporation will be covered under the Eligible Liabilities Guarantee Scheme (ELG Scheme) which provides for a State guarantee for eligible liabilities. To the extent other bondholders do not have the right to claim under the ELG Scheme (such as unguaranteed bondholders and subordinated bondholders), they will retain their claims according to the priority of claims in liquidation and will likely have to await the outcome of the liquidation process to recognise any payment of their claim.
