High Court disqualifies former NIB managers from holding directorships

Two former senior managers with National Irish Bank has been disqualified by the High Court from involvement in the management of a company on grounds of unfitness arising from the findings of the investigation into the 1990s tax evasion scandal in the bank.

Today at the High Court Mr Justice Roderick Murphy ruled that Patrick Byrne St Helen's Road, Booterstown Co Dublin, and Michael Keane, Corr Castle, Howth, Co Dublin were part of senior management within NIB and National Irish Bank Financial Services Ltd (NIBFS) which were

responsible over the entire ten year period of the NIB investigation for certain serious findings of improper practises.

However Mr Justice Murphy also said that he was not making any disqualification order in the case of another former senior manager at NIB Dermott Boner, Chesterfield Avenue, Castleknock, Dublin the bank's Chief Manager of Retail during the early to mid nineties.

The judge was delivering his reserved judgments granting an application by the Director of Corporate Enforcement for a disqualification order under Section 160 of the Companies Act.

The judge will hear submissions from lawyers on June 13 next before deciding the length of Mr Keane and Mr Byrne's disqualification period.

Mr Keane and Mr Byrne become the fourth and fifth senior NIB officials to be disqualified arising from the inspectors' report.

Previously Mr Frank Brennan, of Ardglas, Dundrum, Dublin, was disqualified for six years, Mr Nigel D'Arcy, of Castledillon, Straffan, Co Kildare consented to disqualified for ten years and Mr Barry Seymour, former executive director of NIB from April 1994 to July 1996, has been

disqualified for nine years. Disqualification proceedings are also pending against former NIB CEO Jim Lacey.