Michael Fingleton allegedly authorised loans without board seeing application, court hears

The 87-year-old man, who is in ill health after a stroke, ran the Irish Nationwide Building Society from 1971 to 2009, as both its managing director and chief executive

Liquidators for Irish Banking Resolution Corporation (IBRC) have taken the case against Michael Fingleton, who denies the allegation of negligent mismanagement. Picture: Stephen Collins/Collins Photos

Former Irish Nationwide Building Society boss Michael Fingleton engaged in "solo run" lending and approved millions in loans for a failed casino in the south of France, along with the development of a hospital site in Wales, that saw “massive” losses before ever bringing them before the board for sanction, the High Court has been told.

The civil case against former Irish Nationwide Building Society (INBS) chief Michael Fingleton is in its third day before the High Court, where it has been alleged that he negligently mismanaged the building society and engaged in property “gambles” with high net-worth individuals in an informal and speculative manner.