Meanwhile the European Commission on Monday approved a one-month extension to Ireland's bank guarantee scheme.
Bank of Ireland ADR (NYSE:IRE) is likely to achieve a 90% take up of its latest rights issue.
And, there is little comfort for those who own shares on Wall Street - discounted shares will not be available to current ADR share holders.
As one angry Bank of Ireland ADR share holder says, "I am extremely angry to find that my rights as a shareholder are to be ignored simply because I hold my shares on the New York Stock Exchange."
Dominic Coyle at the Irish Times explains why Bank of Ireland ADR shareholders have been wrong footed:
"The bank is perfectly within its rights to determine where it sells the shares. There are particular issues with selling the shares in the US as fairly onerous and costly paperwork would have to be filed under the US Securities Act 1933.
"Given the relatively small number of US-based shareholders, it has clearly decided not to go this route. It is not unique in this. Several companies across Europe have previously excluded ADR holders from rights issues.
"Ironically, while you are not allowed to take up your rights, you are allowed to sell them. It does seem somewhat inconsistent but selling the rights will at least allow you recoup some of the money you might have hoped to make on an investment in the rights issue itself.
"If you do want to sell the rights, you will need to contact BNY, the group through which people looking to buy ADRs in Bank of Ireland on the US market operate. I wouldn’t hang around though. As I understand it, selling your rights in this way is possible only until the close of business tomorrow."
Meanwhile the European Commission on Monday approved a one-month extension to Ireland's bank guarantee scheme, which Dublin may well look to extend further before its lenders again start issuing debt without state backing.
Ireland first issued a guarantee for some 400 billion euros of bank liabilities at the height of the credit crisis in September 2008, in what then was one of the most extensive schemes of its kind.
The guarantee, which was originally for two years, was amended last year to allow banks to issue guaranteed debt with maturities of up to five years, but still with a 2010 issue deadline and periodically reviewed by Brussels.