Court clears way for sale of Irish Life to Minister for Finance

The High Court has cleared the way for the €1.3bn sale of Irish Life and Permanent's life assurance business, the Irish Life Group, to the Minister for Finance.

Mr Justice Michael Peart today dismissed a challenge by some Irish Life shareholders aimed at quashing a direction order for the purchase of Irish Life granted by the High Court last March to the Minister for Finance Michael Noonan under Section 9 of the Credit Institutions (Stabilisation) Act 2010.