High Court agrees to postpone order for Michael Fingleton's €500k costs

The High Court has agreed to hold off on an order for costs against Michael Fingleton until he decides whether he intends to appeal.

The former Chief Executive of Irish Nationwide is facing a legal bill of up to €500,000 for his failed attempt to put an end to a Central Bank inquiry.

Following what was described as its "most significant and extensive investigation" in 2010, the Central Bank decided to carry out a full inquiry into alleged regulatory breaches at Irish Nationwide and the alleged participation of Michael Fingleton and several other former officers.

The inquiry was pencilled in for next month, but the one-time Chief Executive went to the High Court to try and put a stop to it.

His lawyers spent five days before Mr Justice Seamus Noonan, who ultimately decided it was lawful and could go ahead.

In deciding costs today, his counsel asked the court to consider what he believed to be matters of public interest raised during the hearing, but Mr Justice Noonan decided the points raised were solely concerned with his private interest and awarded full costs to the Central Bank.

However, a hold was put on the order to allow Mr Fingleton consider whether he wants to launch an appeal.

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