Man's bid to sue bank fails on Island 

A man who wanted to sue an Isle of Man branch of a bank along with three other men over a failed business has been told the case should be heard in the UK.

David Cunningham took out the case against Lawrence Ellis, Douglas Graham, Giles Penn and the Bank of Scotland.

He asked the court to award him £6.9 million in damages over the Allerton Group, a North Yorkshire engineering company which went into administration in 2009.

The company was sold for £1.5 million but Mr Cunningham, who owned more than 80 per cent of its shares, claimed it was worth more than £8 million at the time.

In court Deemster Corlett said although two of the defendants had lived on the Isle of Man in the past and the Bank of Scotland had a branch here, there was no firm link to the Island.

He said the case involved an English company which may have had its value damaged by English residents through their actions in England.

The Deemster said no court proceedings had been started in the UK and there were no Manx links to the case which meant it should be heard on the Island.

He ordered the proceedings to be dismissed.