Oireachtas Joint and Select Committees
Wednesday, 15 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John Corrigan:
-----would be my recollection. And it was used, I think, only once, but, again, I could be subject to correction. It was used in the case of AIB. It was .... where there was a subordinated liabilities order made in the courts in relation to certain AIB bonds, which had the effect of reducing the interest rate on those bonds and, again, my recollection is extending the maturities. But the ... the formal SLO process was not invoked in the case of Bank of Ireland, for example.
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