Oireachtas Joint and Select Committees

Thursday, 2 March 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Debt Write-down and Debt Resolution Policies: Allied Irish Banks

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Cuirim fáilte go dtí an coiste roimh an Uasal O'Keeffe agus a chomhghleacaithe. The public is well aware that it had to rescue AIB with €21 billion pumped into it. The public is also aware of the inappropriate actions taking place within the bank that led to a record fine last year of €83 million. In the past couple of days - I am not asking the witnesses to talk about an individual case - there has been a media report suggesting that a very high-profile individual had a significant amount of debt written off. I know Mr. O'Keeffe may dispute the accuracy of the report but I do not think he would dispute the fact that millions of euro of debt was written off by AIB. I have emails from people about being pursued for residual debt, being unable to get an arrangement with AIB and still having to pay a mortgage to AIB on a mica-affected home that is lying in blocks on the ground after being demolished. They are asking whether AIB has a policy for the top 1% of people in this country because they could not get millions of euro of debt written off. They could not even get thousands of euro of debt written off. The public deserves an answer to this.

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