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Civil trial concludes of Michael Fingleton over alleged 'negligent mismanagement' of INBS

Summary

The civil trial concerning alleged negligent mismanagement of the Irish Nationwide Building Society (INBS) by former managing director Michael Fingleton has concluded at the High Court. The Irish Banking Resolution Corporation (IBRC), acting as liquidator, alleged that Fingleton, who led INBS from 1971 to 2009, approved five speculative property loans between 2006 and 2008, resulting in losses. IBRC sought approximately €250 million in damages for these specific loans, despite estimating total related losses at €6 billion. Fingleton, represented by his wife Eileen Fingleton and son Michael Fingleton Jr. under powers of attorney, denied the allegations of negligent mismanagement. Due to ill health following a stroke, Fingleton was unable to give evidence. The trial, which began in May and involved 41 days of evidence and 1.6 million documents, ended with closing submissions. Counsel for IBRC argued that Fingleton exhibited a 'blasé' attitude toward regulatory warnings and gambled with the society's funds. Conversely, defense counsel highlighted significant missing documents and uncalled witnesses as unfairness. Mr Justice Michael Quinn has reserved judgment, indicating he will deliver his ruling as soon as possible. The matter is therefore adjourned pending this decision, and no final determination has been made.

Who, what, where, when and why

What: Report matter: Civil trial concludes of Michael Fingleton over alleged 'negligent mismanagement' of INBS. Procedural stage: hearing_or_decision

When:

• May 6 Other
• 1971 to 2009 Other
• 2006 and 2008 Other
• 2025-10-17 Publication

Case subjects

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report