ISE’s decision on Bloxham still holds

The Irish Stock Exchange’s decision revoking Bloxham stockbrokers’ membership of the exchange cannot be quashed via judicial review proceedings, the Commercial Court has ruled.

The liquidator has also brought a separate plenary challenge to that decision.

Had its membership of the Irish Stock Exchange (ISE) not been revoked, Bloxham could be entitled to significant funds arising from proposals to transfer the business of the ISE to a new company with the distribution of accumulated reserves to existing members.