Patrick Kearney lawsuit comes at sensitive time as suitors bid for stockbroking firm
Stapleford Finance
Case relates to handling of subordinated bonds sale in 2014
Foreign-based investors are cranking up their activities in the courts
Developer Patrick Kearney bought Anglo Irish Bank bonds on advice of stockbrokers
State-owned bank four times as likely as Bank of Ireland to seek summary judgments
Judge rules plaintiff was seriously misled and Anglo engaged in misrepresentations
High Court rules Peter Lavelle has arguable defence to claim by Stapleford over Anglo loans drawn down to invest in Quinlan Private deals
High-profile property investors pursued by firm, which bought bank loans portfolio in 2015
Small firms advised to apply for court protection from owners of loans
Investor had alleged Davy advised him to sell bonds for a sum he claimed was a significant undervalue
Stapleford Finance is also suing Michael Mareneck who claims he has beneficial interest in loan
State-owned bank issued 860 summary actions; mostly against commercial debts
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