AIB gets order giving them charge over O’Reilly shares

AIB has obtained a conditional court order giving the bank a charge over €2.7m worth of shares held by or on behalf of businessman Tony O’Reilly in the Dromoland Castle holding company.

The order is aimed at giving the bank priority over Mr O’Reilly’s other creditors in relation to the shares in AIB’s continuing efforts to recover a €22.6m judgment entered against him last June.

Inclusive of interest, and following the sale of certain assets, his total indebtedness to AIB is €15.2m.