Former Permanent TSB boss says he is owed €866k

Former Permanent TSB chief executive David Guinane has claimed before the High Court he is entitled to a severance payment of over €866,000 following his departure from the bank in 2012.

In his action, Mr Guinane, who worked for PTSB for more than 25 years, makes several claims against the bank, including that it is in breach of contract, and that it denied him fair procedures during his departure.

He also claims that he has a contractual right to a payment under the bank’s severance scheme, known as a voluntary severance scheme.