PTSB shareholders take on minister

Legal action taken by former Permanent TSB shareholders against the Minister for Finance will be heard in the High Court tomorrow.

If the challenge is successful, then it could have huge implications for the State- owned bank, including its restructuring proposals currently before the European Commission.

The shareholder group is led by Piotr Skoczylas, whose Scotchstone Capital Fund bought €200,000 of Irish Life & Permanent shares in 2010.