AIB to enter mediation talks with six former executives, court told

AIB is to enter mediation talks with six former executives accused by the bank of secretly scheming to take over the clients, business and staff of AIB’s international financial services business for their own gain, the High Court heard yesterday.

The state-owned bank has claimed the six were behind a management buyout offer for AIB International Financial Services (IFS).

It alleges they set up a rival business to take over the clients, business and staff of IFS when AIB decided to sell the business to another group, Capita, in June.