Six former AIB executives to appear before Commercial Court next week
The Commercial Court is to hear a case next week involving accusations that six ex-AIB executives colluded to undermine the bank's International Financial Services business.
Undertakings have been given by the men in the meantime not to canvass, solicit or enter into contracts with AIB clients.
It is claimed the six initiated a Plan B after the bank rejected a management buyout proposal of IFS.
AIB claims it lost €22m on the sale of its International Financial Services business as a result of an alleged secret deal.
It claims that six former senior executives, including the former head of IFS, Pat Diamond, as well as Gerry McEvoy, Derek O’Reilly, Andrew O’Shea, Joe Walsh and Aidan Foley, conspired to poach clients and staff from AIB as part of a plan to set up a rival firm.
The bank says buyers Capita originally offered €55m for IFS but this dropped to €33m after 25 employees left the business between June and August.
The hearing has been set to commence on Wednesday, September 28.
