Siteserv sale: Assenagon case likely to be reviewed

A scheme run by IBRC that was ruled unlawful in the British courts is likely to feature in the review announced by the finance minister.

The scheme, which attempted to burn some junior bondholders to the tune of €1.6bn, was successfully challenged in the High Court in London by the German company, Assenagon Asset Management.

Former IBRC chairman, Alan Dukes, included the Assenagon case, along with the Siteserv deal, in a list of seven issues he said he believed the Department of Finance wished to probe.