# AIB: What action do we need to take?



## Jane Devlin (6 Feb 2020)

Hello, do we need to do anything to claim our compensation over the tracker mortgage issue or will AIB be contacting each individual separately?


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## bungaro (6 Feb 2020)

We have to wait for the FSO decision before anything happens. Hold tough for a small while and once the decision is final (and hopefully if AIB bite the bullet and do not drag this out) then I would assume they will be in touch with each affected party


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## Brendan Burgess (6 Feb 2020)

Good advice from bungaro. 

I would guess that the next stage will be that AIB will announce a scheme of redress. 

After that they will write out to everyone affected showing the calculations for them.   That could take some time. 

Even for the €1,615 stage, they announced it in December and didn't write to most people until March. And there was no calculation necessary for that letter. 

Brendan


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## nfreyne (6 Feb 2020)

When will the final FSO decision be published.


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## Brendan Burgess (6 Feb 2020)

AIB has until today to make submissions on the preliminary decision. 
If they avail of that, we will be given the opportunity to comment on their submission.
Then the Ombudsman will issue a final, legally binding decision.  

So that might take one month in total - say 6th March 
Then AIB will have 35 days to go to the High Court. 

If they don't do that, then the Ombudsman will be free to publish the decision - say 11th April. 

But he might not do so immediately.

Brendan


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## zxcvbnm (6 Feb 2020)

Sorry @Brendan. Just so I understand you correctly, if AIB don't make a submission by close of business today, does that mean the preliminary decision becomes final and legally binding after today? Meaning the 35 day countdown starts from tomorrow?

(As an aside, I'm assuming if AIB fail to make a submission to the ombudsman by today, then it may be a strong indicator that they also don't plan on going to the high court. As in....surely it would make more sense to appeal back to the ombudsman in the first instance)


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## coolaboola12 (6 Feb 2020)

I would think June for letters and end of year for actual payouts.


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## Brendan Burgess (6 Feb 2020)

zxcvbnm said:


> if AIB don't make a submission by close of business today, does that mean the preliminary decision becomes final and legally binding after today?



What it means is that they will not be making a further submission. 

The Ombudsman will issue a legally binding decision in due course. 

The preliminary decision is not binding by default. It is only binding when the Ombudsman issues it to the two parties. I don't  know if that is days away or weeks away or months away.

Brendan


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