Bank obtains broker ruling

A bank has obtained a €3.7m judgment against a former partner in the liquidated Bloxham stockbroking firm.

Danske Bank secured the judgement against Patrick Finnegan, former partner and head of private clients in Bloxham arising from his personal guarantee of liabilities of his company, PTF Securities.

Those liabilities arose from a restructuring arrangement whereby the partners in Bloxham were each asked to set up individual companies to purchase an equity stake in the firm, John Donnelly, for the bank, outlined to the High Court.