Banking

Financier censures Central Bank over failings in AIB’s €165m investor redress scheme

Conor Sheahan of CKS Finance, who managed investors’ High Court case against bank, says majority are set to receive zero compensation

Conor Sheahan of CKS Finance: ‘The majority of the investors were deemed to receive 0 per cent redress’. Picture: Fergal Phillips

The Central Bank should intervene in the problems of AIB’s €165 million redress scheme for investors who lost money in a multibillion-euro Celtic Tiger investment scheme, according to a Dublin-based corporate financier.

Conor Sheahan of CKS Finance has written to the Central Bank of Ireland (CBI) to tell the regulator it has “failed to exercise appropriate action” in relation to the bank’s redress scheme, and has allowed the bank to “act in such a way ...