Thursday 23 November 2017

Legal row between Holy Faith nuns and Morgan Stanley settled

A LEGAL row between an order of nuns and an investment bank has settled, a High Court judge has said.

The Holy Faith Sisters, based in Glasnevin, Dublin, had sued Morgan Stanley after buying bonds.

The nuns were among more than 100 investors who took legal action claiming they suffered losses because bonds were not sold quickly enough.

Lawyers told Mr Justice Walker earlier this week that all investors had agreed a "provisional" settlement with Morgan Stanley.

The judge told a High Court hearing in London that agreement had been reached on all claims.

He gave no detail about any terms of settlement.

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