Former Davy employees seek to strike out businessman's claim over bonds sale

Property developer claims 17 former employees allegedly made a multi-million profit from the sale of his Anglo Irish Bank bonds

It is claimed in proceedings initiated last year that the 17 Davy employees made a secret profit of €25m in the onward sale of Anglo Irish Bank bonds.

The High Court has been asked to strike out a businessman's claim that he was fraudulently misled by Davy Stockbrokers and 17 of its former employees when they allegedly made a multi-million profit from the sale of his Anglo Irish Bank bonds.

Sixteen of the 17 former Davy employees say Patrick Kearney's claim is based on pleadings which are untrue.