Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

They are actually being transferred on 27 July. Related to that, AIB wrote to customers who have an overdraft to notify them that it would be removed from 27 July because their loans are being transferred completely. AIB informed them in writing that the letter they received constituted formal demand for repayment of the debit balance, if any, and that any outstanding debt on the account is due for immediate payment on this date. AIB has called in the overdrafts of those businesses that are part of this portfolio and have overdrafts with the bank. How will that work in practice for these businesses? AIB's entire relationship with them is being transferred over to Everyday Finance DAC. If these businesses lose their overdrafts on that date and they are not provided with a corresponding one by the new loan owner, it could be the end of those businesses.