TD awarded 75% of costs for promissory note challenge

United Left TD Joan Collins has been awarded 75% of her costs arising from her failed promissory notes challenge.

The Dublin politician's action focused on the lawfulness of the Minister for Finance's decision to issue €31bn OF promissory notes in favour of Anglo Irish Bank and the EBS.

Despite being unsuccessful, the High Court has ruled that hers was an exceptional case that merited a departure from the normal rule that the loser foots the legal bill.

It recognised the importance to the State of testing novel and important legislative and executive decisions with 'far-reaching consequences'.