Ulster Bank facing Euro 693m court claim

Ulster Bank is being sued for investment losses of as much as £570 million (€693 million) in a claim lodged with the High Court in London.

9th March, 2014
Eighty-five investors from Ireland claim that 5 Canada Square in London was not worth its purchase price when they invested in it in 2008.

Ulster Bank is being sued for investment losses of as much as £570 million (€693 million) in a claim lodged with the High Court in London.

Some 85 investors based in Ireland are behind the claim, which alleges that Ulster Bank and co-defendant Evans Randall, an investment management company, mis-sold a £466.6 million (€567 million) investment in London's Canary Wharf complex.

The lead plaintiff is Brendan McEneaney. He is understood to have lost £200,000 (€242,000)...

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