Scotchstone Capital is a group of companies involved in:

• Investment management – through Scotchstone Capital Fund Ltd (the "Fund"); and 
• Industry research and general advisory – through Scotchstone Capital LLP.

The Fund is a private collective investment scheme recognised and supervised by the Malta Financial Services Authority. Investing in liquid equities on a long-term basis and adopting an activist approach when needed, the research-driven Fund is dedicated to preserving investor capital and achieving superior absolute returns. It is advised and audited by a Big Four accounting firm. The Fund is now closed to new investors.

The Fund has temporarily suspended its new investment activities because the Fund's attention has been focused on litigation in Ireland in respect of the Fund's important investment in Permanent TSB Group Holdings PLC (formerly Irish Life & Permanent Group Holdings PLC) ("PTSB"). PTSB -- which has always been a solvent and viable going concern under the International Financial Reporting Standards (the "IFRS"), as determined by the statutory auditors and the Board -- was subject of a forced €4bn recapitalisation effected via an ex parte Direction Order of 26 July 2011, whereby the Minister for Finance of the Republic of Ireland appropriated more than 99% of the PTSB's shareholder equity from its original shareholders. Under EU law, the Direction Order was unlawful, given that it was not the "least restrictive means" of achieving the recapitalisation in question, as required by the fundamental principle of proportionality under EU law (as applied to actions of Member States applying EU law). The Fund was one of the PTSB shareholders who applied to the High Court of Ireland for the setting aside of the said Direction Order. The respective proceedings, which were a subject of a landmark reference to the Grand Chamber of the Court of Justice of the European Union, have been determined by the High Court to be of "exceptional public importance", where "the importance of the case transcends the interests of the applicants".