Business Irish

Friday 29 August 2014

Promissory note challenge businessman David Hall awarded part of legal costs

Tim Healy

Published 01/02/2013 | 17:40

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A BUSINESSMAN has been awarded part of his legal costs for his failed challenge to the State paying promissory notes.

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High Court President Mr Justice Nicholas Kearns on Thursday found David Hall lacked the legal standing to bring such a challenge because it can only be brought by a member of the Dail.

Mr Hall, who brought the action against the Minister for Finance and the State, intends to appeal that ruling to the Supreme Court.

Today, in a ruling in relation to costs in the High Court, Mr Justice Kearns said Mr Hall was entitled to the cost of two of the four days the case was before him.

The State, he ruled, was entitled to one of the day's costs, while the sides were to pay their own costs for the remaining day.

The Judge said while he had ruled against Mr Hall on the grounds he lacked legal standing, that particular argument, raised by the State should have been argued as a preliminary or stand alone issue.

Such a move the court held would have saved time and expense, the Judge added.

Mr Hall, College Grove, Castleknock, Dublin, a founder member of the New Beginning group of business people and lawyers, had sought to prevent the State making payments on foot of the notes issued from March 2010 in favour of Irish Bank Resolution Corporation (IBRC and the former Anglo Irish Bank), Educational Building Society and Irish Nationwide Building Society.

Some €31bn has already been paid under the promissory notes.

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