The plan was partially to use it to assuage concerns about the Goodbody deal heralding a return to bonus culture within banking. Part of the proceeds were to be used to pay off a debt to US investment firm CarVal. What Kearney didn’t know at the time was that the Davy consortium bought the bonds. But in permitting the deal in the first place, Davy acted in a “reckless manner”, according the Central Bank. Euronext Dublin and the London Stock Exchange, of which Davy is a member, have been equally mute.

Source: The Irish Times March 05, 2021 16:52 UTC