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Permanent TSB takeover of Newbridge Credit Union to go to High Court

The Newbridge Credit Union Action Group is going to the High Court tomorrow (Monday) to seek a st...
Newstalk
Newstalk

10.45 10 Nov 2013


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Permanent TSB takeover of Newb...

Permanent TSB takeover of Newbridge Credit Union to go to High Court

Newstalk
Newstalk

10.45 10 Nov 2013


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The Newbridge Credit Union Action Group is going to the High Court tomorrow (Monday) to seek a stay on a proposal for a takeover of the institution by Permanent TSB.

The Central Bank had been considering a merger between Naas and Newbridge Credit Unions, but this is believed to have been ruled out.

Instead, it's being suggested that Permanent TSB takes over Newbridge Credit Union.

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The action group had come up with alternative proposals which involved the credit union debt and loan book being held by a local consortium.

Chairman Willie Crowley hopes the High Court will prevent any movement until their proposal is given full consideration:


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