Courts / Ireland / Report
Preliminary hearing set for April in Belfry Fund action
2016-02-01
Hearing Or Decision
Summary
In a Commercial Court hearing on 1 February 2016, Mr Justice Brian McGovern scheduled a preliminary hearing for 26 April to decide whether the claims brought by almost 280 investors against the Belfry Fund are outside the statute of limitations. The investors, who invested between €50,000 and €200,000 in the fund between 2002 and 2006, are seeking damages for alleged negligence, breach of contract, breach of fiduciary duty, negligent mismanagement and misrepresentation. The claims are denied. The judge said the preliminary issue concerning the statute of limitations would be heard on 26 April, while other preliminary matters could be addressed at a full hearing, which he said should be modular. The hearing concerns the fund promoted by Allied Irish Bank and five directors of the Belfry Properties group, including Tony Kilduff and John Rockett. The court will consider whether the actions are time‑barred. The decision will be made in the scheduled preliminary hearing.
Who, what, where, when and why
What: Report matter: Preliminary hearing set for April in Belfry Fund action. Procedural stage: hearing_or_decision
When:
- April 26th Hearing Or Sentence
- 2002 and 2006 Other
- 2016-02-01 Publication
Case subjects
Applicant
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