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Michael Fingleton went on 'solo run' approving millions in loans for failed projects, says barrister

Summary

The High Court case against former Irish Nationwide boss Michael Fingleton is in its third day. The civil claim, brought by liquidators for the Irish Banking Resolution Corporation, alleges that Fingleton, who ran the building society from 1971 to 2009, negligently mismanaged the lender and engaged in speculative property lending without board approval. The court heard that in 2007 Fingleton approved two loans to Laurent Properties for a casino and hotel project in the south of France, issuing a second €2.1 million loan before the board or credit committee saw it. The development never materialised and the loans were later sold at a loss. Similar "solo run" lending was alleged in a £1.75 million loan to Coast and Capital for petrol stations and a £20 million loan to Galliard (Sully) Ltd for a hospital outside Cardiff, both of which resulted in massive losses. The case continues at the High Court.

Who, what, where, when and why

What: Report matter: Michael Fingleton went on 'solo run' approving millions in loans for failed projects, says barrister. Procedural stage: hearing_or_decision

When:

• September 2007 Hearing Or Sentence
• April 2006 Other
• May 2011 Hearing Or Sentence
• May 2004 Hearing Or Sentence
• May 2006 Other
• 1971 to 2009 Other
• 2025-05-08 Publication

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report