Patrick Kearney had sued stockbroker and members of O’Connell partnership over issues arising from the 2014 sale of Anglo Irish Bank bonds
Mr Kearney claimed Davy, while acting as his agent in the sale to what he was assured was a third party, had in fact sold them to the partnership which went on to make a secret windfall profit from the onward sale.In his case Mr Kearney, represented by Martin Heyden SC and Eamon Marray BL, wanted to set aside a settlement of a 2015 case he brought alleging, among other things, his bonds were sold at an undervalue and there was a conflict of interest on the part of Davy.
The 15 argued there were inconsistencies in Mr Kearney’s allegation that he was induced into signing the 2015 settlement by fraudulent misrepresentation. They also claimed he did in fact know Davy employees were members of the partnership.
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