Litigation lifts the lid on boomtime practises in AIB

Ensuring that a tight lid is kept on the greed and folly of the banking sector is the only way to avert another crippling crisis, writes Kyran Fitzgerald.

There is nothing like a decent bit of litigation when it comes to gaining some useful insights into how the country’s banks were run at the height of the boom.

The Employment Appeals Tribunal has just published a very interesting determination. It concerns the dismissal of a branch manager, Declan Maher, following an internal investigation into his handling, in 2005, of an application for a $60m loan by a partnership-consortium in respect of a project in Florida.