ILP shareholders bid to block sale of Irish Life to State

Shareholders of Irish Life and Permanent have brought a legal challenge aimed at blocking the Minister for Finance from purchasing the group's life assurance business, the Irish Life Group, for €1.3bn.

ILP shareholders bid to block sale of Irish Life to State
Thu, 05 Apr, 2012 - 17:15

Shareholders of Irish Life and Permanent have brought a legal challenge aimed at blocking the Minister for Finance from purchasing the group's life assurance business, the Irish Life Group, for €1.3bn.

Last month the President of the High Court made direction orders, under Section 9 of the Credit Institutions (Stabilisation) Act 2010, allowing Minister Michael Noonan to purchase Irish Life from ILPG.

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