Strike out IL&P action, court told

A number of legal challenges brought against the Government’s recapitalisation of Irish Life & Permanent should be struck out because those taking the actions lack the legal standing to do so, lawyers for the Minister for Finance argued yesterday.

The minister’ s application is one of a number of key preliminary issues in actions before Mr Justice Kevin Feeney at the High Court, involving a number of shareholders in Irish Life & Permanent and others to the Government’s recapitalisation of the bank.

Piotr Skoczylas and his company, Scotchstone Capital, are among a number of litigants challenging the recapitalisation on grounds including it unlawfully imposes an unacceptable €2.7bn burden on Irish and EU taxpayers.