merrion street

The Minister for Finance and Public Expenditure and Reform, Paschal Donohoe T.D., today published the final report of the Anglo Irish Bank Assessor. David Tynan of PWC was appointed to the role of Assessor pursuant to the Anglo Irish Bank Corporation Act 2009 in November 2018.

Anglo Irish Bank was nationalised on 15 January 2009 and on that date the Minister for Finance acquired all of the ordinary and preference share capital by virtue of the provisions of the Anglo Irish Bank Act 2009.

Sections 22-32 of the Anglo Irish Bank Corporation Act 2009 provided that the Minister for Finance appoint an assessor at an appropriate time having regard to the public interest. The job of the Assessor was to independently determine the fair and reasonable aggregate value, if any, of the transferred shares and extinguished rights and the consequent amount of compensation, if any, that may be payable to persons in respect of Anglo Irish Bank shares transferred and rights extinguished under the Act.

The final report concludes that the fair and reasonable aggregate value of the transferred shares and the extinguished rights as at 15 January 2009 was nil and that no compensation is payable to former shareholders of any class or to former rights holders.

A copy of the Assessors report can be found on the Department of Finance website at https://www.gov.ie/en/publication/cdb19a-anglo-irish-bank-assessor-report/