Nothing underhand about offshore account, libel trial told

The Beverly Cooper-Flynn libel trial at the High Court has heard that there was nothing underhand about a clerical medical insurance investment account being identified only by number.

Nigel Darcy, a senior National Irish Bank executive, was responding to questions about NIB's banking process.

He said any comparison between a CMI offshore account and a Swiss bank account identified only by number was 'absurd'.

The court was also told that a bulletin letter was written by Patrick Cooney of NIB for distribution to sales advisors, including Ms Cooper-Flynn. The letter, which was never sent due to the Iraqi invasion of Kuwait, referred to 'hot money'.

Mr Cooney said that the phrase hot money meant a hot prospect.

It had a different connotation now, he added.

Ms Cooper-Flynn is suing RTE and Co Meath farmer James Howard for an alleged libel in June 1998.