Sunday November 29, 2020

Belfry investors facing statute bar hurdle

Eight of 270 test cases will be examined to determine whether larger case will go on to full hearing, or if investors’ time has run out

Barry J Whyte

Chief Feature Writer

24th April, 2016
The burned investors of AIB's Belfry fund will finally get their day in court this week

The burned investors in AIB’s ill-fated Belfry investment funds will finally get their day in court on Tuesday.

The Belfry funds raised €300 million from the investors from 2002 to 2006, to which the bank then added nearly a billion euro worth of loans to buy commercial properties across Britain, just as the property market was reaching its peak. While the first fund returned a profit, investors in the following five were wiped out.


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