Courts / Ireland / Report
Dispute over AIB investment funds added to fast-track Commercial Court list
2015-10-19
Hearing Or Decision
Summary
Damages actions involving almost 300 investors who invested in property funds promoted by Allied Irish Bank have been admitted to the fast‑track Commercial Court list. The investors are seeking damages for alleged negligence, breach of contract, breach of fiduciary duty, negligent mismanagement and misrepresentation by AIB and other parties over the operation of several investment funds in relation to commercial property in the UK known as the Belfry funds. The court heard that individuals invested anything between €50,000 and €200,000 in the funds between 2002 and 2006. The investors actions are against various parties including Allied Irish Banks Plc, five companies known as Belfry Properties Plc, and their directors, including property investor Tony Kilduff and former head of AIB private banking John Rockett. The action is also against other related companies including Tullamona Ltd, Leyally Ltd, Monsal Ltd, and Essex Trust Lt. The claims are denied.
Who, what, where, when and why
What: Report matter: Dispute over AIB investment funds added to fast-track Commercial Court list. Procedural stage: hearing_or_decision
When:
- August 2014 Hearing Or Sentence
- August 4th 2015 Hearing Or Sentence
- 2002 and 2006 Other
- 2015-10-19 Publication
Topics
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