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 Post subject: Anglo Irish Bank liquidation nears completion
PostPosted: Tue Dec 23, 2014 12:58 am 
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Anglo Irish Bank liquidation nears completion - -> http://www.irishtimes.com/business/fina ... -1.2045765

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The special liquidators of Anglo Irish Bank now only have loans with a face value of less than €500 million remaining to be sold in what has been the biggest liquidation in Irish corporate history.
This means the bank which has become synonymous with Ireland’s economic collapse is now essentially no more.
A small number of loans that the bank has not been able to sell – including borrowings of the family of Seán Quinn, which are the subject of litigation – will be worked out by a legacy unit of less than 50 people.

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 Post subject: Re: Anglo Irish Bank liquidation nears completion
PostPosted: Mon Dec 29, 2014 3:26 pm 
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Central Bank sells €0.5bn of IBRC bonds to the NTMA - -> http://www.rte.ie/news/business/2014/12 ... tral-bank/

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The Central Bank has sold €0.5bn worth of IBRC bonds – the debt instrument that replaced the promissory notes used to fund the losses of Anglo Irish Bank and Irish Nationwide building Society.
The bonds were bought by the National Treasury Management Agency (NTMA), the very organisation that issued them to the Central Bank in the first place.
Effectively the taxpayer has paid off €0.5bn of the €25bn in debt that was left over when IBRC was liquidated last year.
Under the terms of an agreement with the European Central Bank, The payment of the promissory notes debt with newly issued, long-duration Irish Government bonds was deemed legally acceptable only if it included a timetable to sell off part of the Central Bank of Ireland’s holding of the bonds.
For the period 2014 to 2018, the Central Bank is obliged to sell off €0.5bn worth of IBRC bonds each year (rising to €1bn a year until 2024, then €2bn each year after that).

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