IL&P shareholder's case within prescribed time limit, court rules

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.

Today, Mr Justice Kevin Feeney deemed that an application by Piotr Skoczylas, the controlling shareholder of Maltese-registered Scotchstone Capital Funds Ltd, may have been technically flawed, but the court was satisfied that he made a bona fida attempt to bring his challenge within the prescribed time limits allowed.