Ex-INBS executives seek to halt Central Bank inquiry

Irish Nationwide Building Society’s former CEO Michael Fingleton and ex-director John Stanley Purcell have launched High Court proceedings aimed at stopping the Central Bank from conducting an inquiry into alleged regulatory breaches at the financial institution.

The two, with others, are the subject of the Central Bank’s inquiry into allegations certain proscribed contraventions were committed by both INBS, and certain persons concerned with its management, between August 2004 and September 2008.

The inquiry, in the event of any finding of wrong doing, has the power to impose a significant fine on an individual.