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Does sale of Davy draw a line under the controversy?
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Davy shareholders to share up to €605m from three-part sale
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Davy assets to be sold for up to €605m in three deals
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Thirteen of the members of the Davy-16 group of employees who were involved in a 2014 Anglo Irish Bank bond trade at the heart of a Central Bank fine and reprimand for the firm in March were named in the High Court on Monday.
The 13 have been joined as defendants alongside Davy in a case taken by Belfast developer Patrick Kearney, who was on the other side of the trade. Mr Kearney is suing for for damages and aggravated damages, alleging fraudulent misrepresentation, concealment and breach of contract.
He has also alleged that Davy made a windfall profit of about â¬25 million, and deprived him and his company of the best price when it sold the bond on his behalf.
Focus: Davy under the microscope: all eyes on review by global firm
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