Oracle Financial Services Software Ltd. announced Thursday an Irish client has filed a lawsuit against the company alleging breach of contract.

According to a statement issued yesterday by Oracle Corp., Oracle Financial’s parent company, Allied Irish Banks Plc has filed a lawsuit in the Irish High court claiming damages of more than 84 million euros. Allied claims Oracle Financial is guilty of breach of contract, misrepresentation, and negligence.

Experts say the issue is likely to be resolved outside of court at a fraction of the cost being claimed as damages.

The Mumbai-based arm of the largely U.S. owned Oracle Corp. said it is rigorously defending all allegations and will also counter-claim against the Irish bank for breach of contract and outstanding fees.

If your company is facing a lawsuit, please contact the Orange County Business Attorneys of Daily Aljian by calling 949-861-2524.