Hi folks
Sorry for the radio silence on this topic. There were two good reasons for it.
- The Ombudsman had insisted to both AIB and to us that the process was confidential until the deadline for AIB to appeal the decision had passed
- We were winning this war and we did not want to do anything which might provoke AIB into appealing the decision to the High Court
The Ombudsman issued their preliminary decision on 17th January
AIB made their stock market announcement on 4 February
The Ombudsman confirmed their preliminary decision on 12 March
Both sides had 35 days to appeal the decision to the High Court
We indicated immediately that we were not appealing the decision
AIB paid the redress to Karen on Day 35.
They issued this statement on their website yesterday afternoon:
In early February we announced that we had made an additional provision, primarily in relation to an FSPO decision on an individual case relating to a tracker complaint which was then at a preliminary stage. This case is now concluded with the FSPO. While this case involved a number of complex issues the Bank has decided to accept the finding in full, and to apply the finding to other customers within the same cohort. Customers do not need to take any action and will receive a letter and their payments in July and August.