New York investment banker Carlos Abadi was among the losers when AIB imploded, wiping out $6.3bn (€4.85bn) of junior bonds.

THE High Court has agreed to fast-track a legal challenge by two New York-based investment firms to the Government’s plan to buy back debt from subordinated bondholders in AIB at a significant discount.

A HIGH Court challenge by holders of a portion of €2.6 billion worth of Allied Irish Bank (AIB) subordinated bonds, to prevent the Irish Government “burning” 80% of their holdings, is “entirely unfounded” according to Finance Minister Michael Noonan.

THE Jim Mansfield empire is continuing to crumble after NAMA assigned a statutory receiver to a number of businesses linked to the high-profile developer.