Cost of Davy settlement over Anglo bond deal could exceed €3m

“Well done to you all,” judge says as case reaches settlement

Davy stockbrokers offices in Dublin city centre. Picture: Fergal Phillips

The cost of settling a case brought by a Northern Ireland property developer against Davy and 15 former executives is expected to be over €3 million, the Business Post understands.

A High Court judge approved a draft order this morning which settled a case brought by Patrick Kearney against Davy and 15 of the so-called “Davy 16” in relation to the Anglo bond deal in 2014.

As part of the settlement, it is understood that ...