RTÉ publishes story on Denis O’Brien’s request for loan extension from IBRC

Injunction lifted on the original script, with the exception of two paragraphs

Almost seven weeks after it was first slated for broadcast, RTÉ has published its story about Denis O'Brien's request for an extension from IBRC on loans of €320 million.

The story, which revealed that Mr O'Brien told the State-owned bank's liquidators he had a "verbal agreement" with former IBRC chief executive Mike Aynsley for the loan extension in 2013, was originally to have been broadcast on May 1st. It was withheld following a successful temporary High Court injunction application last month by the businessman and the bank.

The original script, with the exception of two paragraphs derived from privileged legal advice given to IBRC, was published on RTÉ’s website after most of the injunction was lifted by the High Court.

The story outlines how Mr O’Brien’s loans with the bank had expired, and he wrote to IBRC’s liquidators in 2013 seeking an extension on the basis of the alleged verbal agreement.

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The RTÉ story suggested that “the bank’s previous management accepts it did have discussions with Mr O’Brien about extending the repayment period. But it does not interpret those discussions as having constituted an agreement.

“Internal bank documents indicate that if the financial institution failed to give Mr O’Brien flexibility he may take legal action on foot of the alleged verbal agreement with previous management.”

The original broadcast, prepared by business editor David Murphy, was not aired yesterday, however. It is understood it will be made available on RTÉ's website.

Mr O’Brien went to court last month to block the story on the basis it was a breach of his privacy and would damage his standing with other banks.

Much of the information was later revealed to the Dáil under privilege by Independent TD Catherine Murphy and Sinn Féin's Pearse Doherty.

Public domain

Lawyers for Mr O’Brien told the High Court yesterday he no longer objected to most of the story being broadcast, as it was now in the public domain.

IBRC told the court it still objected to some information derived from the bank's legal advice being published, and Mr Justice Donald Binchy agreed to keep the injunction in place for two paragraphs of the original script.

Mr O’Brien and IBRC have a week to file a full statement of claim if they choose to seek a permanent injunction, although it is unclear if they will pursue the case against RTÉ.

Mr O’Brien did not respond to a request for comment.

Mr O’Brien has also initiated a lawsuit against the Houses of the Oireachtas Commission and the State arising from the Dáil utterances relating to his banking affairs with IBRC.

Mark Paul

Mark Paul

Mark Paul is London Correspondent for The Irish Times