AIB hits back at claims it ‘intimidated’ Yates

AIB has hit out at claims by bankrupt former Fine Gael minister and broadcaster Ivan Yates that it harassed his family and forced him to “flee” the country.

Mr Yates owes the bank almost €3.7m. Last month, AIB failed in its High Court bid to have him declared bankrupt here.

However, on Friday after his petition for bankruptcy was accepted at Swansea County Court in Wales, Mr Yates claimed AIB harassed his family in pursuit of debts and forced him to flee Ireland after the collapse of his bookmaking firm.

“AIB have harassed and intimidated me and my family since April,” he said, adding the bank “tried to serve a summons on my 80-year-old mother as she was leaving Mass. They refused to stop the debt clock on my loans when the company went into receivership and they made my position impossible”.

However, in a statement yesterday, AIB said it had sought, in good faith, to negotiate a solution with Mr Yates and it had a duty to ensure a suitable economic outcome for the bank and, by extension, the taxpayer.

“AIB does not set out to target specific individuals in any circumstances and approaches each case on its own merits. AIB only pursues bankruptcy in a limited number of customer cases and for valid and considered reasons. These potentially include situations where a customer, in AIB’s view is no longer co-operating with the bank or where a customer seeks to establish residency in another country which might result in a lower recovery for the bank and the Irish taxpayer.”

Mr Yates will be discharged from bankruptcy in Aug 2013. It is understood any future earnings he may accrue in Britain would be outside of AIB’s reach.