Chris and Carmel Marchant became customers of AIB the way many did during the Celtic tiger: they were looking to borrow money.
The siblings had inherited a piece of land in Ireland and were going to take out a loan against their share to finance an antiques business that they owned in the UK, where they live.
“The land was being sold and a price was agreed,” Chris said. “On that basis, AIB lent us the money. The money from the sale of the land was due to pay back the loans.”
But it didn’t quite work out that way. In December 2006, as the transaction was proceeding, the Marchants’ relationship manager approached them with an investment opportunity: the Belfry funds.
What happened next is
