Dispute over ownership of stock bought to High Court

A dispute between property developer David Agar and his former business partner and close friend George Tracey over the ownership of stock in an investment fund, has come before the High Court.

The dispute arises out of a €500,000 loan Mr Agar claims he gave to Mr Tracey to allow him take part in an investment fund launched by AIB private banking called the Alpha Japan Fund, which focused on the Japanese property market.

Mr Agar alleges the loan was never repaid. Late last year the fund was due to pay a return to investors, which it is claimed in Mr Tracey’s case was €62,000. Mr Agar claims those monies should be paid to him.