Changes in claims against Fingleton put defence in an 'intolerable' position, High Court hears

At its height in 2007, the INBS had reported assets of €16bn — but was a high-profile casualty of the financial crisis of 2008

Former Irish Nationwide CEO Michael Fingleton. Solicitor Niall Clerkin, for Mr Fingleton, said his client and their legal team were put in an 'intolerable' situation due to amendments in the statement of claim against his client, and had complained of missing documents and 'very relevant' witnesses not being called by the plaintiffs. Picture: Sam Boal/Rollingnews.ie

The High Court case against former Irish Nationwide chief Michael Fingleton Sr has heard that his legal team were put in an “intolerable” position by alleged changes in the approach and claims by the plaintiffs — the liquidators for the Irish Banking Resolution Corporation (IBRC) — who are pursuing the now-incapacitated defendant for €290m in damages.

The civil case against the former Irish Nationwide Building Society (INBS) chief alleges that he negligently mismanaged the building society, and engaged in property “gambles” with high net-worth individuals, in an informal and speculative manner in the mid-2000s — leading to fatal losses.