Property developer Patrick Kearney would have been “much worse off” if he had not sold an Anglo bond to a group of senior Davy stockbrokers in 2014, lawyers for the stockbroker claim. Nearly a year on from the Davy bond sale scandal, details are beginning to emerge of the stockbroker’s defence to allegations it misled Kearney, the Belfast-born developer, and conspired against him to obtain a “secret profit and windfall”. Davy was fined a record €4.1 million by the Central Bank last March for breaching market regulations in connection with the November 2014 transaction, triggering the piecemeal sale of the…

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