Minister for Finance Michael Noonan has been urged to block any payment of junior bondholders from the proceeds of the liquidation of the former Anglo-Irish Bank and Irish Nationwide Building Society.
Fianna Fáil spokesman on Finance Michael McGrath made the call as he was reacting to an interim report from the Irish Bank Resolution Corporation.
The report indicates that the liquidation has so far raised €1.85bn - potentially enough to repay the State, unsecured creditors, and possibly junior bondholders who made risky investments in the bank.
Mr McGrath has said Mr Noonan should explore every legal avenue to avoid payments to junior bondholders including issuing a direction order to the liquidators as provided for in legislation.
