Rebel shareholders to make life difficult for IL&P board
THE board of Irish Life and Permanent (IL&P) is expected to face strong opposition from shareholders at an extraordinary general meeting this morning.
The company is seeking backing for a motion to allow the government put money into the ailing bank, which would give the state a 99pc stake.
A group of dissident shareholders have been gathering what has been described as 'formidable support' to oppose the motion, which if passed will see their investment in IL&P wiped out.
The meeting is taking place in a Dublin hotel at 11.30am.