Bloomberg News

Allied Irish Faces Challenge on Junior Debt, Sunday Times Says

February 05, 2012

Feb. 5 (Bloomberg) -- Allied Irish Banks Plc faces a court challenge in the U.S. to its move to virtually wipe out some investments in junior debt, the Sunday Times said.

A U.S. school is taking the challenge after it received $6 from a $600,000 investment after it didn’t take part in a bond buyback. The Dublin-based bank said the U.S. courts have no jurisdiction to hear the case and has applied for a dismissal, the newspaper said.

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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