Bondholders begin legal proceedings against Irish Nationwide

08 Nov 2010

Two holders of Irish Nationwide Building Society’s 2016 lower tier two bonds have started proceedings against the institution and the trustee of its EMTN programme, the company said in a stock exchange statement on Friday.

“The claimant noteholders have requested the court to direct the trustee to institute proceedings against the society under the terms of the notes,” the statement said.

INBS said that it was planning a vigorous defence. “No event of default or potential event of default under the notes has ...

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