Belfry investors mull appeal over ‘redress inconsistencies’
AIB has paid out millions of euro in compensation over the Celtic Tiger era investment funds, but some individuals in the same fund were paid significantly different sums
Dozens of investors burned by AIB’s failed Belfry property investment scheme are considering appeals to the Financial Services Ombudsman over what they claim are inconsistencies in the bank’s redress scheme.
AIB has paid out close to €100 million in compensation over the Celtic Tiger era investment funds, which between 2002 and 2006 raised €300 million from around 2,500 people to invest in commercial properties across Britain.
Last summer, the bank offered compensation of €20 million ...