AIB has been described as 'caught in the middle' of a legal dispute between well-known Dublin developer David Agar and his former business partner George Tracey.
The row revolves around a €62,000 return from €500,000 investment made in 2007 in the bank's Alpha Japan Fund.
The stock is registered in the name of George Tracey of Mearescourt House, Mullingar, Co. Westmeath but David Agar alleges he is its true owner as he lent Mr. Tracey the money to make the investment and claims the loan has hot been discharged.
Order restrains AIB pay-out
Last month the developer, with an address at Beacon Court, Sandyford in Dublin 18 secured a temporary High Court order restraining AIB from paying out the return to Mr. Tracey who was described to the court as having been a close friend and longstanding business partner of Mr. Agar.
Today lawyers for the bank indicated to Mr. Justice Roderick Murphy today that they would be happy for the injunction to remain in force rather than risk having to make a double payment to the 2 men.
The case has been put back.
