The State used a law to cut payments to retired aviation workers to help address a €770m pension fund deficit and avoid industrial unrest among existing workers before the sell-off of Aer Lingus in 2014/15, the High Court has heard.

PROPOSED legislation to deal with grossly excessive legal bills is to be introduced sometime next year.

RECEIVERS have been appointed to a Dublin-listed investment fund hit by the collapse of the subprime mortgage market.