Vincent O'Donoghue loses AIB share sale challenge in High Court

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

Vincent O'Donoghue lost his High Court challenge to the proposed sale of the State's AIB shareholding on 26 May 2017.

Mr Justice Paul Gilligan refused an injunction and dismissed the proceedings against AIB Mortgage Banks plc and the State defendants.

The court held that the claim disclosed no cause of action against the bank and identified no statute preventing the State from selling its shares.

It also held that the courts could not interfere in matters of political economy within the executive's discretion.