Credit union manager’s suspension extended

The High Court has extended the manager of a Co Dublin credit union’s suspension from holding a management position in any financial-services firm by three months.

The order regarding Anne Butterly, who was temporarily suspended from her position at Rush Credit Union by the Central Bank in June

after investigations were launched into alleged irregularities there. It is thought more than €1m could be missing but it is not known who is responsible for any alleged wrongdoing.

Yesterday, following an application by Nuala Butler, counsel for the Central Bank, Ms Justice Marie Baker agreed there were “sufficient reasons” to extend Ms Butterly’s period of suspension by three months.

In her ruling, the judge said the concerns that gave rise to the Central Bank’s decision to open an investigation and suspend Ms Butterly are still present.

Additional concerns were also raised during the course of the investigation which is on-going and being carried out with “due diligence and skill,” the judge noted.

The court heard that Ms Butterly was not represented in court, and was in hospital following a serious accident.

The credit union has about 12,000 members.


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