Lenihan paves way for wind down of INBS

Radical powers to wind up Irish Nationwide Building Society (INBS) at just five days’ notice will be granted to finance minister Brian Lenihan following the enactment of legislation governing the National Asset Management Agency (Nama).

24th October, 2009

Radical powers to wind up Irish Nationwide Building Society (INBS) at just five days’ notice will be granted to finance minister Brian Lenihan following the enactment of legislation governing the National Asset Management Agency (Nama).

Amendments to the Nama Bill, which is making its way through the Oireachtas, provide for sweeping new measures that will reduce the notice period for members in advance of critical votes on the future of a building society to...

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