Clayton suing over alleged negligence

U2 BASSIST Adam Clayton is suing a number of named defendants involved in the financial operations of the band over alleged negligence.

It is understood Clayton has lodged papers with the High Court against Gaby Smyth, who has his ownaccountancy firm in Dublin, as well as Bank of Ireland private banking and two other named defendants, Jill Percival and Pat Cleary, both accountants who work with Mr Smyth.

The legal action is the second launched by the bass player in the past six months.

Last December, the High Court granted an interim order freezing the assets of his former housekeeper and personal assistant, Carol Hawkins, below €1.8mfollowing allegations she may have misappropriated funds of that amount.

That case alleges that she had been withdrawing about €600 twice daily for a period of 13 months, spent on items such as jewellery and cars. Ms Hawkins has denied the claims.

It is uncertain whether the latest case is linked to that legal action.

The papers were lodged on June 4 and is a plenary summons linked to alleged negligence. The U2 bassist has a month in which to issue formal summons against the named parties.

Any potential court case could expose details of the group’s finances.

U2 have already been criticised for moving some parts of their business to the Netherlands, thereby avoiding paying higher royalty taxes in Ireland.

It is understood Mr Smyth, whose company is based in Dublin, was involved in that move.

Bank of Ireland private banking provides independent advice to clients and offers high annual returns on large investments of €250,000 or more.

The current managing director of Bank of Ireland private banking is former Irish rugby international Brendan Mullin.

Clayton’s legal representatives in the latest case are Gleeson McGrath Baldwin, led by commercial law expert Frank Murphy and Geraldine Clarke of the firm’s litigation department.