AIB to "roll back" from legal action as half of legal letters dealt with

David Hodgkinson told shareholders that the bank would “roll back” from legal action after half of the 6,600 letters sent by AIB to borrowers have resulted in positive engagement.

19th June, 2014
Following their AGM this morning, AIB held an extraordinary general meeting to discuss the bank’s capital reorganisation

AIB chairman David Hodgkinson told shareholders today that the bank would roll back from any legal action after half of the 6,600 letters sent by the bank to borrowers in arrears of 90 days or more have resulted in positive engagement.

Since the letters were sent, between 10 and 15 per cent of the borrowers in question have been meeting their repayments, he said.

This morning AIB said it had signed a permanent contract with its chief executive David...

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