Allied Irish Banks has defended a debt write-down deal for hurling legend DJ Carey.
According to the Irish Examiner, AIB have said "external commentary" does not show the full picture.
On Tuesday, the AIB Head of Retail Jim O’Keeffe wrote to staff telling them that “all appropriate avenues” to recuperate debts are exhausted before a debt write-down.
A write-down debt is when your creditors, or bank, agree to reduce the size of your debt.
This may reduce the value of an asset, but at least it does not eliminate it entirely, as bankruptcy will do.
It was revealed last weekend that hurling star Kilkenny hurling legend DJ Carey received a write-down settlement of almost 80% with the bank over a jaw dropping debt worth €9.5m.
Dáil Finance Committee
A TD says we need a banking system that's fair and reasonable to individuals who are in mortgage distress.
Aontú leader, Peadar Tóbín, raised the issue in the Dáil following reports about a debt write-down involving former hurling star, DJ Carey.
The figures are said to run into millions of euros.
The bank has reportedly defended the write down in a circular to staff.
The Taoiseach, Leo Varadkar, said the wider-policy approach that banks follow in writing-down debt could be explored by the Dáil Finance Committee.
"I imagine, its linked to how much a person is able to pay back rather than who they are but that needs to be looked at, I think.
"I can't tell you how many have had write downs of more than 90% but the Department of Finance might have those figures, I don't have them personally.
"There is a relationship framework according to which the Department of Finance engages with the banks."
