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AIB must explain sweetheart deal over €9.5 million debt - Pearse Doherty TD

20 February, 2023 - by Pearse Doherty TD

Sinn Féin spokesperson on Finance Pearse Doherty TD has written to the Finance Committee requesting that it invites AIB before it to explain its policy of debt write-downs.

This follows revelations that a prominent GAA figure had a debt of over €9.5 million written down to €60,000.

Speaking today, the Donegal TD said:

“Yesterday I wrote to the Finance Committee requesting that it invites AIB before it.

“Revelations that a prominent GAA figure was offered a debt write-down of more than 99 percent, demands an immediate explanation.

“This happened in 2017 – a time when AIB offered no compromise to borrowers in mortgage difficulty, when it overcharged thousands of customers through the tracker mortgage scandal.

“In the years that followed this sweetheart deal, AIB sold off mortgages to vulture funds without any thought of the consequences for families.

“Many of them are now being hit hard with the ultra-high interest rates these funds are charging.

“AIB must explain their approach.

“On what grounds can a prominent individual have a debt written down by more than €9.4 million while ordinary workers and families are shown no compromise, or worse, have their loans sold off to vulture funds?

“It is time for AIB to come before the Finance Committee and explain itself.”

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