The High Court has reserved judgment on a challenge to a resolution passed at the annual general court of Bank of Ireland three years ago which is alleged to have materially affected the voting rights of a Dublin accountant as a holder of stock.
Mr Neal Duggan, Shrewsbury Road, Dublin, is seeking declarations that the purported passing of the resolution, No 7, placed before the meeting of the annual general court on July 5th 1995, is null and void and of no legal effect and that the resolution was defeated.
An order is also being sought restraining the bank from purporting to act as though the resolution was validly passed.
Mr Duggan claims he is a member of the bank, holding a total of £126.22 of ordinary stock. He pleads that at the meeting, the chairman, Mr Howard Kilroy, proposed a resolution purporting to amend the bye-laws of the bank which materially affected the value of his voting rights attaching to his holding of ordinary stock.
Bank of Ireland denies that the casting of proxy votes in the poll or the manner in which they were cast was without lawful authority as alleged or at all. The bank pleads that the poll was conducted in accordance with its bye-laws and that Mr Duggan is not entitled to the relief claimed.
The hearing concluded yesterday and Mr Justice McCracken reserved judgment.
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