A judge said he wants to be told by the end of October whether it is proposed to join accountancy firm KPMG, former auditors of Irish Nationwide Building Society, as a co-defendant in a legal action brought over €6bn losses at the society.

An application may be made to join accountancy firm KPMG as a defendant to a legal action arising from €6bn losses at Irish Nationwide Building Society.

The special liquidator Kieran Wallace has strongly rejected any claims that there is a conflict of interest that has resulted in him not suing his ultimate employers, KPMG as part of the liquidation of IBRC.

The Irish Bank Resolution Corporation (IBRC) has launched legal proceedings against former Irish Nationwide Building Society boss Michael Fingleton.

FOLLOWING an emergency board meeting yesterday Irish Nationwide (INBS) said it regretted the decision of Dr Michael Walsh to quit as company chairman.