Six bankrupt PTSB customers win tracker compensation deal

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Six bankrupt PTSB customers had a compensation arrangement approved by the High Court on 25 July 2016.

The arrangement concerned tracker mortgages and payments of up to €25,000. Seventy per cent will go to the customers, with the remaining share distributed to creditors through the official assignee’s office. The case followed PTSB’s admission that it had wrongly moved tracker-loan customers onto more expensive mortgages. About 1,400 property owners were affected by the bank’s redress programme.