Shareholder protesting IL&P recapitalisation to appeal court ruling

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.

Piotr Skoczylas, the controlling shareholder of Maltese-registered Scotchstone Capital Funds Ltd, said today he intends to appeal Mr Justice Kevin Feeney's ruling that he cannot represent Scotchstone in the case to the Supreme Court as such an appeal was in the public interest.