AIB 'did not back down from full hearing'

AIB has said it did not back down from a full court hearing over the Seamus Sheerin issue involving the foreign exchange overcharging scandal.

The bank was quite happy to proceed to a full hearing of the case that former senior executive, Seamus Sheerin, had brought to the High Court after he was dismissed form his job in the bank, a spokeswoman for AIB said.

"AIB was prepared to go to a full hearing," she said. The spokeswoman also said it was totally wrong to say the bank had reached a €1 million settlement with Mr Sheerin.