Terence Flanagan
Ceist:164 Deputy Terence Flanagan asked the Minister for Finance if he will provide information (details supplied) regarding Anglo Irish Bank; and if he will make a statement on the matter. [14149/12]
Amharc ar fhreagraTuesday, 13 March 2012
Ceisteanna (112)
Freagraí scríofa
As the Deputy is aware, the bank has no means of establishing the underlying ownership of these securities which are freely tradeable once issued. These securities are publicly traded and dealt through market participants and settled by clearing house systems. An issuer does not have any access to the records of the clearing house. At maturity, the Bank will instruct its paying agent to transfer the funds due to the clearing house who will then distribute the funds to the holders of the securities as per their records. Even where the bank is presented with lists alleging to represent names of bondholders I am informed there is no way for the bank or anyone else to verifying the veracity of such lists. In the circumstances the Deputy will appreciate that there is nothing further I can do to identify the names of the bondholders.