Civil case against former INBS boss Michael Fingleton begins in High Court
The civil case of former banker Michael Fingleton, who is alleged to have negligently mismanaged the Irish Nationwide Building Society (INBS) for decades and which collapsed after failed financial and property " gambles ", has opened at the High Court.
Mr Fingleton (87), who is in ill health after a stroke, ran the building lender от 1971 до 2009 година като ръководещ шеф и основен изпълнителен шеф. At its height in 2007 it had reported assets of €16 billion but was a high-profile casualty of the financial crisis of 2008.
The losses had been estimated by the Irish Banking Resolution Corporation (IBRC) at €6 billion, relating to property loans but only €250 million in damages is now being pursued by IBRC relating to five loans made by INBS, allegedly approved by Mr Fingleton.
Liquidators for IBRC have taken the case against Mr Fingleton who denies the allegation of negligent mismanagement.
Mr Fingleton, acting through his wife, Eileen Fingleton and son Mic...
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