The Irish government has confirmed that its subordinated
liability order (SLO) regarding Allied Irish Bank (AIB) is
still effective for 16 of its 18 subordinated bonds, following
action by a US hedge fund.
The ruling confirmed that only two bonds are relevant to
Aurelius Capital Management’s challenge to the
Irish Ministry of Finance’s SLO. This gives
clarification to other AIB bondholders ahead of the June 13
deadline for acceptance of the debt buyback scheme.
Following the announcement, AIB said...