AIB AIB at the Oireachtas Finance Committee this morning

B26354

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Thanks for posting tnegun.

McGrath is excellent here. His line of argument focuses in on the ambiguity of the contracts as there is no definition of a prevailing rate in contracts and how arguable the case is as a result. Hence the bank calling it a service breach and not a contract breach; this wording of a service breach from AIB is probably on the back of legal advice and is likely to have been made as they too will have an eye on upcoming FSO &/or high court cases. It’s also an implied acknowledgement that the contracts are ambiguous.

Similar argument applies to EBS variable base rate cohort too.
 

Brendan Burgess

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