Tom Shehan (Fine Gael)

In September 2008, they were only sold to credit unions in lieu of perpetual bonds as part of a compensation deal by Davy stockbrokers and they were bought back yesterday. A process was set in train by the former Minister for Finance to tender for those bonds to be bought back with only 20% of their value to be paid. Of the 109 credit unions that have €54.6 million invested in these bonds, only 59 voted to accept the 20% buy back proposal.