PTSB PTSB - on expiry of fixed rate, tracker rate not specified

WhiteCoat

Frequent Poster
Messages
67
Yes, the Central Bank has come down on the side of ptsb on this issue. They are signing off on ptsb's tracker redress programme as completed.

Those affected will now have to go to the Ombudsman or the court.

Brendan
Hi Brendan,

Do you have details or a link to the details of this decision please? I'd like to understand the rationale.
 

WhiteCoat

Frequent Poster
Messages
67
Apologies for bumping my query - I'm meeting my solicitor later in the week and would just like to understand the background. Anyone any info?
 

robe

Frequent Poster
Messages
68
Hi all. Happy new year.
Has anybody any news on relevant upcoming court dates on the unspecified rates above ecb with ptsb ?
 

core123

Frequent Poster
Messages
75
Got an email from Padric Kissane office. Padric met with Ger Deering mid December and
will be progressing mycase to the FSPO in the new year, following receipt of the final response letter .
 

WhiteCoat

Frequent Poster
Messages
67
Hi Core123,

Did P. Kissane provide any details / commentary?

On what basis is he going to appeal to the FSPO?
 

core123

Frequent Poster
Messages
75
@WhiteCoat I received a letter from Padric's office saying he is progressing the cases that were not deemed impacted by the CB investigation that he believes should have been deemed impacted. A member of his team is to get in touch with us over the next few weeks to update us on this.
 

Apples82

Registered User
Messages
21
Could a successful high court challenge on the AIB prevailing rate form the basis of an argument that could be used to help the PTSB group??
 

RedOnion

Frequent Poster
Messages
3,288
Could a successful high court challenge on the AIB prevailing rate form the basis of an argument that could be used to help the PTSB group??
No, specifically in context of 'prevailing rate' which I understand your question to be.

It's a completely different scenario, so one wouldn't set a precedent for the other. PTSB had a prevailing rate, and made it available - they met the terms of contract.

AIB just said it wasn't available.
 
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PFS7979

Frequent Poster
Messages
150
Hi red onion,

There is a difference between expiry of the ptsb fixed rate and expiry of its 'discount period'.

On expiry of the discount they issued options in a manner inconsistent with the contract. The original contract definitively states the ptsb tracker (undiscounted) would apply and was silent on options expiring etc. I can see they treated customers coming off the discount period in the same way as those coming off a fixed rate... that was very wrong and i hope the fspo can see that.
 

RedOnion

Frequent Poster
Messages
3,288
There is a difference between expiry of the ptsb fixed rate and expiry of its 'discount period'.
Correct - I'll edit my post for context. Poster has previously asked about 'prevailing rate' so I was answering in that context.
 

Zeppelin

New Member
Messages
5
PTSB have said Today they have finished their probe into the tracker redress fiasco. ..has a one in here that is impacted have any updates from PTSB or solicitors on the situation and is it at any stage of an outcome ..TIA..new to the forum
 

JCB1

Registered User
Messages
19
Hi all,
I’m wondering if people have solicitor for their case as well as p Kissane to take case ombudsman
If so, can you share solicitor name.

Has anyone progressed their case to the next stage with any outcome?

Let’s see what PTSB say today
 

robe

Frequent Poster
Messages
68
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