Former INBS boss Michael Fingleton's attempt to stop a civil trial alleging negligent management of the failed lender has been unsuccessful. The Supreme Court ruled against his bid, stating that he did not meet the threshold to dismiss the case before a hearing.
Michael Fingleton’s lawyers had urged the Supreme Court to end the 2012 civil claim brought against him by the liquidators of the State-owned Irish Bank Resolution Corporation (IBRC), which took over INBS after it collapsed. Five judges of the top court held that the 86-year-old, acting through his wife and son, Michael Fingleton jnr, under their powers of attorney, fell “considerably” short of the threshold that would convince the court it should dismiss his case before a hearing.
The High Court and Court of Appeal had already refused to halt the trial, which is scheduled to run next year. Mr Fingleton’s lawyers had urged the Supreme Court to end the 2012 civil claim brought against him by the liquidators of the State-owned Irish Bank Resolution Corporation (IBRC), which took over INBS after it collapsed.They argued he cannot receive a fair trial due to being incapacitated after suffering a stroke several years ago and because of the passage of time since the alleged events. The liquidators’ senior counsel, John D Fitzgerald, submitted that halting the case would be a “draconian step”. The claim against Mr Fingleton was originally pitched at €6 billion, the amount lost by the lender after the 2008 property crash. It has since significantly narrowed to about €290 million and centres around a series of five loans issued between 2006 and 2009.Giving the Supreme Court’s judgment on Thursday, Mr Justice Séamus Woulfe said ill-health does not, in itself, ground an entitlement to have a case dismissed. He concluded that the Court of Appeal had applied the legal principles correctly in finding that Mr Fingleton had not discharged the “very high burden” in attempting to secure a dismissa
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