Government facing promissory note legal challenge

The government faces a legal challenge tomorrow to the burdening of taxpayers with the cost of bailing out the former Anglo Irish Bank and Irish Nationwide Building Society.

21st January, 2013
The legal standing of promissory notes used to bail out the former Anglo Irish Bank is to be challenged tomorrow.

The government faces a legal challenge tomorrow to the burdening of taxpayers with the cost of bailing out the former Anglo Irish Bank and Irish Nationwide Building Society.

David Hall, a director of Irish Mortgage Holders Organisation, a debtors’ advocacy group, is questioning whether the state’s use of €31 billion of so-called promissory notes to rescue the lenders is a legal use of public funds, Hall said on his Twitter account on January 13th. The...

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