Ailmount Investments Ltd has already brough proceedings against lender over deferred payment of €15.3m
Bank of Ireland has brought its own High Court proceedings over its purchase of the Davy stockbrokers group.
On Monday, proceedings by BoI firm, BoI Nominee 1 Ltd against Ailmount Investments were admitted on consent to the fast-track Commercial Court.Local and European election results: Tight European race in Dublin counts with recounts under way in some local contestsMary Lou McDonald is the chief mourner at RDS as local elections throw up an unexpected result
There was also a procedure under the share purchase agreement providing for the appointment of a senior counsel to provide an expert opinion on the prospect of success of the claims. Mr Daly said Ailmount had frustrated the process of appointing counsel. He said Ailmount last month asked the court for permission to amend its case to include the matters now being claimed in the BoI proceedings as well as a stay on the BoI case going ahead until the amendment issue is resolve.
She also said her client’s application last month to amend its proceedings arose because BoI was “in breach of its clear obligations” under the share purchase agreement and there was no lawful basis for withholding the €15.3 million payment.
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