Banker defends developer loan
A CASE is continuing in the High Court today where a senior manager with Irish Nationwide Building Society is seeking a High Court order to prevent an investigation into his conduct relating to a number of accounts run by a Limerick property developer involving a sum of about €36 million.
Noel Harrington, manager or the Irish Nationwide branch at Cruises's Street and with an address at The Hermitage, Mill Road, Corbally, is alleging the Society had sanctioned, at the very highest level from its head office, the manner in which the accounts in question were operated.
In his legal proceeding, he wants an injunction to prevent the society taking steps to appoint an investigator into his conduct and he also wants an order restoring him to his position as senior manager.
Following a number of meetings, in which Mr Harrington says he dealt fully with the issues, the investigation focused on accounts of well known local developer, Ger Clohessy, who allegedly owes j36 million to Irish Nationwide.
Mr Harrington was suspended with pay on January 26. Subsequently, Irish Nationwide appointed a purported independent investigation into these matters.
Mr Justice Frank Clarke has given Mr Harrington's lawyers permission to serve notice of the proceedings on Irish Nationwide.
Mr Harrington has been with the Building Society for the past 14 years. The investigation began last September into his conduct in this matter.
Mr Michael Tuite, representing Mr Harrington, told the court that on January 26, after a further meeting at the Building Society's headquarters in Dublin, a number of issues were brought up and his client attempted to deal with them as fully as possible.
In answering questions about certain accounts, Mr Harrington had indicated to the society sanction was given, at the very highest level, for the manner in which they were operated.
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Tuesday 22 May 2012
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