EU preliminary legal ruling over Irish Life & Permanent expected in months

Shareholders in the former Irish Life & Permanent (IL&P) who are suing the Government for loss of earnings after the 2011 bailout, can expect an EU judge to make a preliminary ruling on the case in four months.

The applicants — Gerard Dowling, Padraig McManus, Piotr Skoczylas, and Malta-based firm Scotchstone Capital Fund Limited — had their case heard for the first time in the European Court of Justice yesterday.

While no date was set for the verdict, court officials confirmed a preliminary opinion by an EU judge is usually made within two to four months of the hearing.