Oireachtas Joint and Select Committees
Thursday, 9 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Brendan McDonagh:
No. The wiping out of the shareholders was certainly, I suppose, a technical issue that I felt that had to be grappled with because of constitutional property rights and that was, I suppose, at technical level in terms of the draft Bill presentation but, I suppose, there really wasn't any more because they went the guarantee route, these Bills were left aside, just as obviously there was other things to be worked on. And, I suppose, it came back up again as a huge issue that had to be dealt with in a very complex way by the Attorney General's office when the Anglo nationalisation Bill was being prepared in mid-January 2009.
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