Former Irish Nationwide Building Society (INBS) boss Michael Fingleton will face a civil trial next year, concerning €290million he gave out in loans.
His lawyers had claimed the 86-year-old was incapable of giving evidence in his defence since suffering a stroke five years ago. However, the Supreme Court has now ruled that the case can go ahead despite his ill health.
It supported previous judgments by both the High Court and Court of Appeal, which found there were sufficient other witnesses, and an abundance of documents, even if Mr Fingleton was unable to give oral evidence.
The case had first been launched in 2012, by the liquidators of the State-owned Irish Bank Resolution Corporation (IBRC), which took over Irish Nationwide when it failed.
They had initially alleged Mr Fingleton was responsible for the €6billion INBS had lost during the financial crash.
It was said that Mr Fingleton had enjoyed considerable autonomy and freedom from oversight.
Defending that claim, Mr Fingleton said he was at all times subject to the control and oversight of the board.
The sum claimed was massively reduced by the IBRC liquidators by the time Mr Fingleton’s bid to stop the case reached the Court of Appeal.
Lawyers for the liquidators then confirmed their interest was focused on five loans, totalling around €290million, issued between 2006 and 2009.
It was claimed Mr Fingleton had failed in his duty to exercise due skill, care and diligence in authorising and advancing those loans.