500 ACC bond cases settled in one pen stroke

Five hundred cases where customers of ACC Bank suffered heavy losses after borrowing to invest in “low-risk” tracker bonds have been settled in the Commercial Court.

The settlement was announced yesterday afternoon, following complex negotiations which lasted over 30 hours.

In one of the biggest cases in Irish legal history, multiple parties came together to sue over a financial product. It is also likely to go into the record books as one of the biggest claims ever to be settled in one pen stroke.