Bank of Ireland has filed proceedings against a company controlled by former shareholders in Davy, the stockbroking firm it bought in 2022 for €427 million. Bank of Ireland is claiming it is entitled to do so under certain indemnity clauses within the contract of sale struck in 2022. READ MOREThis is the second set of proceedings between Bank of Ireland and Ailmount arising out of the deal. Last year, Ailmount initiated proceedings against Bank of Ireland claiming the bank had failed to make a payment of about €20 million due as part of the acquisition. It also includes among its shareholders about 300 people who are now Bank of Ireland employees following the acquisition.

Source: The Irish Times May 30, 2024 02:21 UTC