WHAT YOU CAN DO
The small group of the shareholders in PTSB GH (the "Shareholder Litigants") who challenge in court the ex parte direction order effected by the Irish Minister for Finance on 26 July 2011 (by means of which the Minister appropriated 99.2% of the paid-in capital in PTSB GH) bear all the risks associated with the court proceedings against the Minister and the might of the Irish State. Given the facts and evidence of at hand (which are briefly presented on this website), there is no doubt in the minds of the Shareholder Litigants that ultimately, following the pending ruling of the Court of Justice of the European Union, the Minister will be found to have acted illegally to the detriment of the original shareholders in PTSB GH. Consequently, as things stand, it seems that those shareholders who have been affected by the aforementioned ex parte direction order will be able to seek damages attributable to them that appear to amount to at least €1.8 per share (excluding non-calculable damages and interest / re-investment losses, as delineated on this website). Thus, if you were a shareholder in PTSB GH on 26 July 2011, you then have been affected by the said ex parte direction order and, therefore, may be eligible to apply for the potential damages, even if you sold your shares subsequent to that date. On that basis, you can work out yourself damages that would be potentially awarded to you (if you have been affected by the said ex parte direction order). Assuming that all the affected 135,000 PTSB GH shareholders (mostly from Ireland) joined the respective legal action, and assuming that such a legal action is successful, the total damages attributable to all the affected shareholders would then potentially amount to at least €500 million (excluding non-calculable damages and interest / re-investment losses). In this context, the following letters have been sent to the largest affected shareholders in PTSB GH:
- Letter dated 7 January 2015 to the largest 200 affected shareholders
- Letter dated 22 January 2015 to the largest 10,000 affected shareholders
Please seek out other shareholders in PTSB GH, inform them about this website, and encourage them to read the information provided on this website. Facts are stubborn things and in this case they unequivocally support the position of the original shareholders in PTSB GH. It is important for their own sake that as many of those shareholders as possible know the truth. There are 135,000 PTSB GH shareholders worldwide, and they all should know about the critical developments regarding their shareholding. They all may wish to help extend the shareholder coalition of common interest.
Please let us know if, following the pending ruling of the Court of Justice of the European Union, you would be interested in seeking the aforementioned potential damages (assuming, inter alia, that the Court of Justice of the European Union rules in favour of the position of the affected shareholders in PTSB GH).
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PTSB Shareholders Oppose Blatant Breaches of EU Law by Irish Finance Minister