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Dublin TD Loses Challenge Against Promissory Notes

United Left TD Joan Collins has expressed disappointment after losing her High Court challenge to the lawfulness of promissory notes.

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The notes were used from 2010 as part of the 31 billion euro recapitalisation of the former Anglo Irish Bank, and EBS.

The Dublin deputy questioned whether public monies can be designated without an upper limit being specified by the Dail.

The 3 judges hearing the case found the Finance Minister acted within his powers under the 2008 Credit (Financial Support) Act and that the law is Constitutional.

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