Court order sought over accounts

A SENIOR manager with Irish Nationwide Building Society (INBS) Limited is seeking a High Court order to prevent an investigation into his conduct relating to a number of accounts run by a Limerick property developer and involving a sum of about €36 million.

Noel Harrington, manager of the INBS branch at Cruise’s Street, Limerick, and with an address at The Hermitage, Mill Road, Corbally, Limerick, is alleging the society had sanctioned, at the very highest level from its head office, the manner in which the accounts in question were operated.

In his legal proceedings, he wants an injunction to prevent the society taking steps to appoint an investigator into his conduct and he also wants an order restoring him to his position as senior manager.

Michael Tuite, for Mr Harrington, secured leave from Mr Justice Frank Clarke yesterday to serve short notice of the proceedings on the building society.

The judge returned the case to tomorrow.

Mr Tuite said his client was an employee of the society for the past 14 years and was a senior manager.

An investigation had commenced last September concerning Mr Harrington’s conduct at the branch and a number of matters in which he was involved.

A meeting took place with the society’s chief executive Michael Fingleton and Mr Harrington had co-operated completely with the society in every single request made to him, counsel said.

On January 26th, after a further meeting at the INBS head offices in Dublin, a number of issues were brought up and his client attempted to deal with them as fully as possible.

In answering questions about certain accounts, Mr Harrington had indicated to the society sanction was given, at the very highest level, for the manner they were operated, counsel said.

Counsel said three separate issues concerned Mr Harrington.

Two involved him as manager and borrower and the other related to a series of accounts run by Gerald Clohessy, a developer in Limerick, involving a figure of about €36 million.

It was this latter matter which was the main focus of the society’s investigation.