Investors in Davy-organised investment scheme sued for €2.4m

Investors in Davy-organised investment scheme sued for €2.4m

The investors were introduced to the investment in 2005 by Davy and came together under the Grove Island Co-ownership group.

Ten investors are being sued by a fund claiming they owe some €2.4m on the 2009 refinancing of a Davy Stockbrokers-organised loan taken out towards the purchase of 11 tax-designated apartments in Limerick.

Everyday Finance DAC, trading as Link Financial, is seeking judgment against the investors who availed of a tax incentive scheme to buy the apartments at Fisherman's Quay, Grove Island, in 2006.

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