The appropriate test for determining whether to dismiss and / or
strike out a third party claim was examined recently by the High
Court in IBRC and INBS v John S. Purcell, David Brophy,
Terence Cooney, Cornelius P. Power and Michael P. Walsh and Central
Bank of Ireland and KPMG [2012] No. 3279P.
Proceedings were initially instituted by the Plaintiffs against
the former directors of Irish Nationwide Building Society
("INBS") on foot of an allegation that
those directors had unlawfully and improperly delegated their
powers to the Chief Executive of INBS, Michael Fingleton. The
Central Bank had been joined to the proceedings by the first Named
Defendant on the basis that the delegation was carried out
with the full knowledge and approval of the Central Bank and,
furthermore, that the Defendants relied on the Central Bank's
guidance and approval. The application before the High Court
was the Central Bank's motion to strike out the third party
statement of claim.
