AIB AIB at the Oireachtas Finance Committee this morning

tnegun said:
First video Michael McGrath - Prevailing Rate
Click to expand...
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.
 
AIB is in front of the Oireachtas Finance Committee on Wed and I checked this out again to see the blackgarding from the AIB staff.

www.oireachtas.ie

Oireachtas committees video archive

Online archive of videos of committee debates since the start of the current Dáil
www.oireachtas.ie

Don't forget that all this was before the Ombudsman upheld the complaint and the Central Bank forced AIB to apply it to all 6,000 impacted customers.

Brendan
 
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