RTÉ allowed to publish most of report on Denis O’Brien’s banking arrangements

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

RTÉ published most of its report about Denis O’Brien’s banking arrangements with IBRC after the High Court varied an injunction. Two paragraphs remained covered by the order. The proceedings were reported on 17 June 2015.

Justice Donald Binchy agreed to vary the order following “dramatic” recent events, with most of the information now in the public domain. The broadcast had originally been scheduled for 1 May but was blocked after Denis O’Brien secured an injunction.

The High Court had refused to lift the injunction completely the previous week. RTÉ had argued that developments including Dáil speeches by Catherine Murphy and Pearse Doherty had made it inconsequential. Lawyers for the parties subsequently argued over which passages should remain restricted. Denis O’Brien no longer opposed publication of information that had entered the public domain.

The RTÉ story said Denis O’Brien told IBRC liquidator Kieran Wallace that former chief executive Mike Aynsley had given verbal confirmation of an extension to his €320 million loans. In a letter to the liquidator, he said the extension amounted to a year on the three-year loan.

The story alleged that IBRC believed its position had been weakened by the claimed verbal agreement. It described prolonged correspondence between the bank and Denis O’Brien, but said documents seen by the broadcaster did not show how the issue was resolved.

Lawyers for IBRC argued that legal advice given to the bank about its relationship with Denis O’Brien should remain confidential.