Courts / Ireland / Report

High Court hears of alleged 'get out of jail card' issued to INBS borrower

Summary

In a High Court civil case, former Irish Nationwide senior manager Conal Regan testified that Michael Fingleton Sr., the ex‑chief executive, allegedly issued a "get‑out‑of‑jail card" to a borrower who could not repay a €6 million loan. Regan said the borrower, who had purchased land in Meath in 2007, was told by a letter that the loan was "non‑recourse", meaning the lender could not pursue the borrower beyond the collateral. Regan could not find any documentation supporting the non‑recourse claim and expressed shock at the letter, which he said was issued at Fingleton's direction. The case, in its third week, accuses Fingleton of negligent mismanagement and speculative property dealings that led to significant losses for Irish Nationwide. The court continues to hear the matter.

Who, what, where, when and why

What: Report matter: High Court hears of alleged 'get out of jail card' issued to INBS borrower. Procedural stage: hearing_or_decision

When:

• April 2009 Hearing Or Sentence
• October 2007 Hearing Or Sentence
• October 2009 Hearing Or Sentence
• February 2009 Other
• March 25, 2010 Other
• 2025-05-21 Publication

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report