The €5.3 million sale of an Anglo bond to a consortium of Davy staff members in 2014 was a “great deal” and “the only deal in town” for indebted property developer Patrick Kearney, the High Court has been told. Lawyers for the former Davy employees, who are being sued individually by the businessman alongside the stockbroker, said in commercial proceedings this week that it was “just not real” to suggest Kearney could have held onto the bonds or sold them later. Davy, engaged as an agent by Kearney to carry out the bond sale, is accused of misleading the developer…
Don’t miss out on what is going on with our daily unique stories from our team of skilled journalists and insightful commentators. Members of The Currency get full access to over 4,000 exclusive interviews, investigations, and analysis, plus over 460 podcasts. Annual membership is just €200 for the first year, a saving of €100. Or try The Currency for the first month for a special introductory rate of €5, a saving of €20. Cancel at any time. To become a member today click here.
Join The Currency
INTRODUCTORY OFFER: Full annual membership for just €200.