This part of the website is addressed primarily to shareholders in PTSB GH. It is critically important that the affected shareholders close ranks. More than 450 PTSB GH shareholders representing a large percentage of the voting share capital from before the July 2011 Ex Parte Provisional Direction Order are in the process of commencing in due course litigation against the Irish Minister for Finance regarding the alleged breaches of EU law, with focus on the breaches of the Second Council Directive 77/91/EEC (which is subject of the pending ruling of the CJEU under Art. 267 TFEU). But we need more support. The more united the affected shareholders are, the more effective they can jointly be in influencing the current situation. 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 (mailed so far to the largest 3,000 shareholders)
All the shareholders may benefit from extending a shareholder coalition of common interest. As outlined in this website, it seems that those shareholders who have been affected by the ex parte direction order forced by the Irish Minister for Finance on 26 July 2011 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), if the said ex parte direction order is ruled to have been illegal. In this context, please let us know if, following the pending ruling of the Court of Justice of the European Union, you would be interested in seeking those 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).
For avoidance of doubt, you are not being asked here to contribute any funds to litigation; nor are you exposing yourself to any litigation costs by providing your feedback.
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PTSB Shareholders Oppose Blatant Breaches of EU Law by Irish Finance Minister