Irish Nationwide manager left 'shocked' over borrower's 'get out of jail card', court hears

The case against the former Irish Nationwide Bank Society chief executive and managing director Michael Fingleton continues

Michael Fingleton, aged 87, cannot give evidence due to ill-health. File picture: Collins

A former senior manager at failed lender Irish Nationwide has told the High Court that he was left "absolutely shocked" after being told that Michael Fingleton Sr had given an alleged "get out of jail card" to a borrower who could not repay a multi-million euro loan.

Conal Regan, who joined the bank after Mr Fingleton Snr left the society in April 2009, on Wednesday told the High Court that the defendant allegedly wrote a letter to one lender who borrowed almost €6m to purchase land in Co Meath in October 2007, confirming that the sum loaned to him was "non-recourse".