AIB granted court orders against former executives of subsidiary

The State owned Allied Irish Bank has been granted temporary orders by the High Court against six former senior executives of one of its successful subsidiaries, Allied Irish Bank International Financial Services Ltd. (AIBIFS)

Senior Counsel Michael Mc Dowell, representing AIB, told Mr Justice Barry White today that the bank had been offered €55m for the subsidiary but the offer had been reduced to €33m incurring a loss of €22m.