Healy O'Connor

AIB Subordinated Bondholders Case in the Commercial Court

The State is paying a six-figure sum towards legal fees incurred by an investment firm following the withdrawal of its Commercial Court case against the Minister for Finance over plans to inflict losses on AIB subordinated bondholders. The firm, Abadi Co, representing subordinated bondholders in AIB, withdrew the challenge to a court order secured last […]

Investors Must Pay Out Over AIB Debt Default

Investors selling insurance to subordinated bondholders protecting against an AIB debt default will have to make a pay-out arising from the Government-forced changes to the terms of the bonds. The International Swaps and Derivatives Association, the trade body that monitors the credit default swaps market, ruled yesterday that a credit event had occurred. This means […]