Michael Fingleton appeal fails to halt trial over alleged building society mismanagement

The former Irish Nationwide Building Society head tried to get the case against him dismissed or permanently suspended due to severe ill health and the passage of time

The IBRC sued Michael Fingleton in 2012 for alleged negligent mismanagement of the building society. It was initially claiming for damages of €6 billion — the sum lost by the building society after the 2008 property crash. They are now limiting their claim to damages arising from five series of loans of about €290 million. File picture: Billy Higgins

Former Irish Nationwide Building Society head Michael Fingleton has failed to convince the Court of Appeal that a trial over alleged mismanagement of the collapsed lender should be dismissed or permanently suspended due to severe ill health and the passage of time.

The three-judge court cleared the way on Wednesday for Mr Fingleton (85) to defend the long-awaited action brought against him by the special liquidators of the Irish Bank Resolution Corporation (IBRC), which took control of Irish Nationwide in 2011 after it failed.