State Aid N 546/2009 – Restructuring of Bank of Ireland
EUROPEAN COMMISSION Brussels, 15.7.2010 C(2010) 4963 final Subject: State aid N 546/2009 – Restructuring of Bank of Ireland Sir, 1 PROCEDURE (1) By decision of 26 March 20091 (State Aid case N 149/2009), the Commission authorised a capital injection of EUR 3.5 billion into Bank of Ireland Group (hereafter also "BOI" or "the bank"), on the basis of several commitments including the submission of a restructuring plan within six months following the recapitalisation. (2) By letter of 30 September 2009 the Irish authorities submitted a restructuring plan for BOI. (3) The Commission requested information with regard to the restructuring plan on 28 September 2009, 28 October 2009, 6 November 2009, 18 December 2009, 13 and 27 January 2010, 2, 8, 24 and 25 February 2010, 23 March 2010, 7, 8, 9, 10 and 14 April 2010, 21 May 2010 and 3 June 2010. Those requests for information were answered by the Irish authorities on 5, 19, 24, 26 November 2009, 1, 9, 10, 11 December 2009, 8, 9, 14, 15, 26 and 27 January 2010, 3 and 17 February 2010, 23 and 29 March 2010, 7, 8, 9, 10, 14, 15, 28, 29 and 30 April 2010, 27 and 28 May 2010 and 11 June 2010. Further information regarding commitments on the State measures were submitted on 21, 22 and 30 June 2010, 2 and 5 July 2010. (4) In addition, the Commission services met with the Irish authorities on 24 February 2010 and 31 March 2010. 2 DESCRIPTION OF THE MEASURE 2.1 The beneficiary (5) BOI is the oldest Irish bank, having been established in 1783.
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