AIB bondholder withdraws challenge to state’s burdening-sharing scheme
The Government is bidding to impose losses of up to €5 billion on junior bondholders across the sector to help fund a €24bn bill to recapitalise struggling lenders.
New York-based firm Aurelius Capital withdrew its High Court challenge against a Government order to impose losses of up to 90% on subordinated bondholders in AIB, which the Government said will bring in more than €1.6bn.