AIB takes court action against managers

SIX senior AIB executives secretly and systematically colluded in the preparation and execution of a premeditated strategy to undermine and damage the bank’s International Financial Services business for their own gain, the High Court has heard.

Yesterday Michael McDowell, for the bank, told Mr Justice Barry White that following an internal investigation, AIB had been shocked and astounded at the conduct of “the six” top managers.

They are: Pat Diamond, Merlin, Elton Park, Sandycove, Dublin; Aidan Foley, formerly Grawn, Kilmacthomas, Wexford; Gerry McEvoy, formerly Shandon Park, Phibsboro, Dublin; Derek O’Reilly, Fernleigh Drive, Castleknock, Dublin, Andrew O’Shea, formerly Ashbrook House, Julianstown, Co Meath, and Joe Walsh, formerly of Grosvenor Terrace, Monkstown, Co Dublin.