Fingleton's wife may be added as defendant for trial over stewardship of Irish Nationwide

ireland
Fingleton's Wife May Be Added As Defendant For Trial Over Stewardship Of Irish Nationwide Fingleton's Wife May Be Added As Defendant For Trial Over Stewardship Of Irish Nationwide
The court also heard the main trial is due to begin next January. Photo: File image
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High Court reporters

Michael Fingleton's wife Eileen and his son Michael junior may be added as defendants in a representative capacity for the former Irish Nationwide Building Society (INBS) in High Court proceedings over his stewardship of the building society.

The special liquidators of Irish Bank Resolution Corporation (IBRC), which took over INBS after it collapsed, claim that, among other things, some €6 million in losses from development loans given out by INBS between 2008 and 2010 arose from a time when Mr Fingleton had excessive control of the society's business, and he also flouted lending rules.

Mr Fingleton (83) has denied the claims. However, since the case began in 2012, his health has failed and as a result his wife and son have now been given enduring power of attorney over his affairs.

Mr Fingleton has previously failed in an application to have dismissed, or permanently stayed, the IBRC case against him.

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An appeal over that refusal is currently pending before the Court of Appeal (CoA) which has also said that the entire proceedings should be reconstituted with his family acting in a representative capacity.

That matter came before the High Court on Tuesday when Lyndon MacCann SC, for IBRC, said the court had previously said a guardian ad litem (person appointed by the court to represent someone) would be appointed if the power of attorney was not registered.

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Counsel said the power of attorney has since been registered under the names of Mrs Fingleton and Michael junior. Therefore, Mr MacCann said, he was seeking that the proceedings be reconstituted with the wife and son named in a representative capacity for Mr Fingleton as defendant.

Counsel had no objection to a short adjournment to allow lawyers for the Fingletons to consider the matter.

Mr Justice McDonald adjourned the matter to next Monday.

The court also heard the main trial is due to begin next January, and it is expected that the appeal by Mr Fingleton challenging the refusal to stay that case will have been determined by then.

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