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Anglo Irish Bank nationalized

Alston & Bird LLP
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Ireland
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January 17 2009

Yesterday, the Irish government announced that it has nationalized Anglo Irish Bank

Anglo Irish Bank to receive 4 billion in capital from Irish government

Alston & Bird LLP
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Ireland
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June 1 2009

Following last Friday's publication of Anglo Irish Bank’s (AIB) financial results for the six months ended March 31, 2009, the Irish Minister of Finance announced that, subject to EU approval, the Irish government will provide up to 4 billion of capital to AIB

Ireland announces plan to acquire property loans

Alston & Bird LLP
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Ireland
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September 16 2009

Earlier today, Ireland’s government announced additional details of its plan to acquire property loans from struggling banks in order to bring additional liquidity and stability to the troubled Irish financial system

Irish Life & Permanent confirms transfers to Anglo Irish Bank; three executives resign

Alston & Bird LLP
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Ireland
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February 13 2009

This week, Irish Life & Permanent plc (ILP) confirmed “that it provided exceptional support to Anglo Irish Bank during September 2008 and in particular on 30th September 2008 following the introduction of the Government Guarantee Scheme” by transferring 8.2 billion to boost Anglo Irish Bank’s (AIB) deposits between March 31, 2008 and September 30, 2008, the end of AIB’s fiscal year

Ireland announces 7 billion recapitalization package for Allied Irish Bank and Bank of Ireland

Alston & Bird LLP
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Ireland
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February 12 2009

Late yesterday, the Irish Government announced that it has “decided on a comprehensive recapitalization package for Allied Irish Bank and Bank of Ireland which will reinforce the stability of our financial system, increase confidence in the banking system here, and facilitate the banks involved in lending to the economy.”

European Commission approves Anglo Irish Bank 4 billion recapitalization plan

Alston & Bird LLP
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European Union, Ireland
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June 26 2009

Today, the European Commission (EC) approved the Irish government's 4 billion emergency recapitalization of Anglo Irish Bank

Ireland announces emergency budget, including creation of "bad bank"

Alston & Bird LLP
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Ireland
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April 7 2009

Earlier today, Ireland's Finance Minister Brian Lenihan announced an emergency "supplementary budget" to address Ireland's growing budget deficit, which had grown to 3.7 billion during the first three months of 2009 and was projected to grow to as much as 24 billion by year end, all while GDP is projected to fall by 8 this year and unemployment projected to hit 12.6, the highest level in 13 years

Allied Irish Banks provides capital update

Alston & Bird LLP
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Ireland
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April 20 2009

Allied Irish Banks, PLC (AIB) announced today that it has "decided to take further action to strengthen its capital position…."

EC temporarily approves aid for Anglo Irish and INBS and opens inquiry into Anglo Irish aid

Alston & Bird LLP
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European Union, Ireland
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April 1 2010

Yesterday, the European Commission (EC) authorized an emergency recapitalization worth up to 10.44 billion for Anglo Irish Bank (AIB) and 2.7 billion for Irish Nationwide Building Society (INBS) for reasons of financial stability approved for a period of six months

Anglo Irish Bank announces biggest loss in Irish history

Alston & Bird LLP
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Ireland
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April 2 2010

On Wednesday, Anglo Irish Bank (AIB), which was nationalized in January 2009, announced a 12.7 billion net loss for the 15-month period ended December 31, 2009, the largest loss in Irish corporate history

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