The High Court has ruled that an Irish Life & Permanent shareholder’s challenge against the Government’s recapitalisation of the bank was brought within the allowed time period.

The High Court has ruled that an Irish Life & Permanent shareholder's challenge against the Government's recapitalisation of the bank was brought within the allowed time period.

A man whose company bought some €200,000 of shares in Irish Life & Permanent in 2010 is to appeal a High Court Judge's ruling that he is not legally entitled to represent the company in proceedings challenging the Government's recapitalisation of the bank.

A High Court judge has begun a hearing to decide key preliminary issues in actions by a number of shareholders in Irish Life and Permanent and others to the Government’s recapitalisation of the bank.