High Court approves AIB bailout - The Irish Times - Fri, Dec 24, 2010
High Court approves AIB bailout - The Irish Times - Fri, Dec 24, 2010: "THE GOVERNMENT has secured a High Court order allowing it to inject a further €3.7 billion into Allied Irish Banks (AIB) without the approval of its shareholders.
The bank – once the country’s largest – will be effectively nationalised, bringing four of the country’s six banks and the majority of the banking system under Government control.
Emergency bank restructuring legislation signed into law by the President on Tuesday was used for the first time by Minister for Finance Brian Lenihan. He will initially take a stake of 49.9 per cent in the bank, rising to 92.8 per cent in January."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
The bank – once the country’s largest – will be effectively nationalised, bringing four of the country’s six banks and the majority of the banking system under Government control.
Emergency bank restructuring legislation signed into law by the President on Tuesday was used for the first time by Minister for Finance Brian Lenihan. He will initially take a stake of 49.9 per cent in the bank, rising to 92.8 per cent in January."
:Text may be subject to copyright.This blog does not claim copyright to any such text. Copyright remains with the original copyright holder.
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