Supreme Court To Rule On Government’s Promissory Notes

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The Supreme Court will rule today on whether the Government's promissory notes are unconstitutional.

The Supreme Court will rule today on whether the Government's promissory notes are unconstitutional.

The challenge was taken by Independent TD Joan Collins over the issuing of the controversial IOUs to bail out Anglo Irish Bank and other financial institutions. 

Deputy Collins claims the Dáil should have voted on the matter – however Counsel for the State claims the then Minister for Finance Brian Lenihan had the power to do what he did under legislation introduced in 2008 to avert a banking collapse.

The ruling will be issued later.