Shareholders’ group plans ‘class action’ against PTSB
Ten thousand former shareholders in Permanent TSB will be invited this week to join a quasi-class action group being built by a small group of former investors in the nationalised bank, with potentially half a billion euro at stake.
The shareholders will receive a letter from Piotr Skoczylas, the managing director and fund director of Scotchstone Capital, who is attempting to build what he calls a shareholder coalition of common interest.
While Irish law does not support traditional class action suits, there are certain mechanisms through which a large group of people can pursue a legal case, provided all parties agree to be bound by the ruling in one pathfinder case.
Skocyzlas ...
