PTSB bid should be ‘flung out’

A director of Permanent TSB has described as “an egregious breach of court process” a court bid by the bank and a group of directors to prevent any action aimed at disqualifying any of the directors from involvement in the management of a company.

Piotr Skoczylas told the President of the High Court, Mr Justice Nicholas Kearns, that the court bid against him and others, including some shareholders of PTSB, should be “flung out” with an order for costs against the bank and other plaintiffs.

Last Friday, PTSB and 10 of its directors or former directors secured an interim order restraining Mr Skoczylas, Scotchstone Capital Fund Ltd, and six others taking any legal proceedings aimed at disqualifying any of the 10 directors or former directors under Section 160 of the Companies Act.