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Fri 07 Jul 2008High Court reserves judgment on Davy appeal
THE HIGH Court has reserved judgment on a challenge by stockbroking firm JE Davy to a decision by the Financial Services Ombudsman that it failed to advise Enfield Credit Union properly about the risks of investing in three perpetual bank bonds that later fell in value.
Final legal submissions were made yesterday in the three-day hearing before Mr Justice Peter Charleton, sitting in the Commercial Court, the big business division of the High Court. The judge reserved his decision and said he hoped to give judgment before July 31st next.
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