A Dutch court has heard that Irish Life Investment Managers is one of two investment companies seeking a probe into the running of European aerospace giant EADS.
A court statement said the companies tribunal in Amsterdam would hear an application by ILIM and Germany's Deka Investment for it to 'order an investigation into the policies and affairs of the European Aeronautic Defence and Space Company'.
The parties were also seeking certain 'immediate measures' but the tribunal refused to give further details.
Today's Financial Times Deutschland reported that the two companies would seek compensation for losses suffered when EADS share values fell because of delays in the construction of the Airbus A400M, a military transport plane, and the A380 super-jumbo. Lawyers for the companies would not comment.
Deka Investment is a Frankfurt-based privately owned investment manager with savings banks, insurance companies and pension funds as clients. It is understood ILIM's investment in EADS was relatively small.
An independent report on the Airbus A400M project last week laid the blame for delays and cost over-runs with directors of parent company EADS.
The company has asked the seven countries that ordered the military transport plane to cover €5.2 billion in unanticipated costs.
In 2003, the A400M programme was given a budget of €20 billion for 180 aircraft but its development has run into problems and the plane needs an estimated €11 billion more for production to be completed successfully.
Talks were held in Berlin last week between representatives from Belgium, Britain, France, Germany, Luxembourg, Spain and Turkey, and EADS directors on how to share the extra costs.
