Anglo Irish Bank proceedings against Cork solicitor struck out

High Court proceedings by Anglo Irish Bank against Co Cork solicitor Declan Guilfoyle, who allegedly planned to liquidate the State-owned bank, were struck out today.

Barrister John Breslin, for Anglo, told Mr Justice Michael Peart that orders, restraining the Midleton solicitor from advertising a petition to wind up the bank, could be struck out following a statement by senior counsel on Mr Guilfoyle’s behalf.

Mr Guilfoyle carried out work for the bank, advising it on matters relating to the National Asset Management Agency and he claimed he was owed some €100,000 in fees.

Mr Michael Cush, S.C., for Guilfoyle, told the court the matter had been settled on the basis of an undertaking by his client not to seek such a petition which he had earlier threatened to seek.

Mr Cush said Mr Guilfoyle, while on holiday, had been sent a letter from the bank indicating a certain amount of money was being paid to him and asking him not to proceed with the proposed petition.

He had not received the letter until his return from holiday but in the meantime the bank had last week obtained the court injunctions in his absence.

Mr Cush said it was never Mr Guilfoyle’s intention to present a petition without the consent of the Minister for Finance.

He was aware he could not personally have done so without the Minister’s approval against a State-owned bank.

The proceedings were, by consent, struck out and existing injunctions vacated on the undertaking of Mr Guilfoyle not to proceed with such a petition.