RE: Interviews3 Aug 2021 23:16
The RNS dated 10 February 2020 clearly shows Legal representatives of all parties involved in the claim appeared in Court, including the legal representatives of two insurance companies, (among the largest operating in Europe) which have provided professional indemnity cover to the majority of the eight defendants. The insurance documents seen by the Directors indicate that, for this specific case, the professional insurance cover is €1,000,000 per year, per insurance company. Therefore, €2,000,000 per year of cover has been provided. The alleged misconduct described in the claim took place over a number of years.
There is Indemnity cover in place and the independent expert has valued the claim at 7.8 million.
We are now following the courts timetable.
GLA