Financial services company secures injunction against EBS

A financial services company has secured a High Court injunction preventing EBS from terminating an agency agreement to operate three of the building society's branches in Athlone, Longford and Lucan. Betty Martin Financial Services Ltd obtained the injunction from Mr Justice John Jordan on Wednesday, which remains in place pending full resolution of the dispute. BMFS claims the termination followed its refusal to engage in alleged mis-selling of financial products, contrary to Central Bank guidelines. EBS denies the allegations and opposed the application. The judge concluded that BMFS had established a serious issue to be tried and that damages would not constitute adequate remedy. He found no satisfactory explanation from EBS for the proposed termination and noted that the parties had worked together successfully for many years. The judge encouraged both sides to pursue mediation. The case was adjourned for two weeks for final orders.