A private prosecution brought against two officials at IBRC (formerly Anglo Irish Bank) for alleged deception has been adjourned, pending the outcome of a legal challenge.
Mary Kelly and Declan Buckley, who has since retired from Irish Banking Resolution Corporation, were summoned to appear before Dublin District Court after a prosecution was brought by Mr Patrick Halpin, a director of two companies involved in the hotel business.
Mr Halpin, who is a director of Crossplan Investments Ltd and Elektron Holdings Limited of Aberdeen Lodge, of Park Avenue Sandymount Dublin 4, has alleged that both Ms Kelly and Mr Buckley by deception falsely represented to him that IBRC was prepared to continue in a process that would allow Elektron Holdings Ltd to stay trading, on February 17 last.
Last week counsel for the bankers told the High Court that Mr Halpin's action was frivolous and vexatious. The High Court was told that it had been brought because of an IBRC decision to appoint receivers to two companies, of which he is a director.
Counsel for the bankers also argued in the High Court that summons should not have been issued against them and a district judge who had issued them had erred in law.
Ms Kelly is a case manager with the banks' Recovery Management Division, and Mr Buckley is a former employee of IBRC, where he had held a position of Director of Banking.
On Friday the High Court allowed them to bring a challenge to the prosecution brought by Mr Halpin.
Yesterday at Dublin District Court Judge Conal Gibbons was told that the High Court has placed a stay on the prosecution.
He adjourned the proceedings until a date in November pending the outcome of the legal challenge which resumes in July.