Agreement has been reached in a High Court case in which the Central Bank, after expressing concerns that a Co Leitrim investment intermediary had failed to comply with its directives, applied for an order against the intermediary.
The proceedings first came before the court last week but yesterday the court was told orders could be made by consent between the parties.
When the case was before the High Court on Monday last, Mr James Gilhooly SC, for the intermediary, Mr John McGuire, said that insofar as any wrongdoing was alleged against his client, he wished to be in a position to deny this utterly and had to do so on affidavit.
Mr McGuire accepted that there had been delays in complying with directions from the bank but this delay was due mainly to illness, added counsel.
Mr Gilhooly added that his client had put in hand arrangements to have the bank's directives complied with but required more time.
The bank had secured leave to bring by special summons an application under the Investment Intermediates Act against Mr McGuire, who has a business address at Main Street, Carrick-on-Shannon, Co Leitrim; and a home address at Carrick Road, Drumshanbo, Co Leitrim.
