Eight years ago, Irish Life executive Mr Brendan Hayes left the GAA Club in Church Road, Malahide, Co Dublin, and was never seen again.
Mr Hayes, who was one of Irish Life's top three executives, was credited with much of the work that led to the successful flotation of the company on the Irish Stock Exchange in 1991. When news of the his disappearance reached the stock market, Irish Life's share price fell by 4p, to 169p. Stockbrokers were reassured his disappearance was not connected with the company, and the price rose in late trading by 2p. A week after Mr Hayes disappeared, Irish Life reassured the financial markets that his disappearance would not damage the insurance company. Mr Hayes was a native of Dublin and was 44 when he went missing. His five children were aged between nine and 20 at the time. He had worked at Irish Life for 27 years. He was appointed chief financial officer in 1989, joining the board the following year.
Mr Hayes, whose salary and director's fees amounted to over £120,000 annually, was also a director of the Voluntary Health Insurance Board and the National Statistics Board.
In July 1993, on the application of Ms Hayes, the High Court appointed a solicitor as a trustee to exercise option rights over certain Irish Life shares which were in the name of Mr Hayes.
The earliest a death certificate could be obtained was September 1999. The trustee preserved the proceeds of shares for the family for seven years. Profits of the sale were held so that in the event of a reappearance of Mr Hayes, they would be available.