Institute of Directors to feature in IL&P court case

A TRAINING course at the Institute of Directors is likely to feature in a High Court case, expected to be heard next week, that has been taken by a number of shareholders in Irish Life & Permanent.

The shareholders have initiated proceedings to have Piotr Skoczylas appointed to the ILP board and fully installed by March 1st.

They also want the court to order that ILP pay €4,000 for specialised training for Mr Skoczylas at the Institute of Directors. The Central Bank has said he should do the training prior to his appointment.

Mr Skoczylas, who was elected to the board at an AGM in July 2011, is a shareholder in IL&P by way of his Maltese-registered company Scotchstone Capital.

His company is party to a separate challenge to the recapitalisation of IL&P by the Government.

He has complained that it has taken “an unusually long time” for IL&P to approve his appointment to the board and seek the approval of the Central Bank.

When this happened he was instructed by the Central Bank to do a course in the Institute of Directors.

However, Mr Skoczylas has complained that he has encountered stalling and procrastination from IL&P in this regard. He says he eventually dealt directly with the institute with the aim of organising the training that would allow him take up his position on the board.

In a letter to IL&P on February 20th, he said it was arranged with the institute that he would undergo the training today, February 25th.

However, in a letter dated February 23rd, to IL&P, he claimed he had just received a phone call from the institute saying the training was being cancelled because IL&P was refusing to pay for it. “The High Court will take this matter further,” he said.

The case is expected to come before the courts next week, when IL&P will give its version of events.

A spokesman for IL&P said it would be outlining its position on the issue to the court next week and that it would not be appropriate to comment until then.

Scotchstone spent €200,000 on IL&P shares in autumn 2010.

The shareholders who have taken the case seeking to have Mr Skocylas appointed are: Mr Skocylas; Bernard Butler: David Caird; Gerard Dowling; Noel Charles Fitzpatrick; Thomas Fitzpatrick: Lorraine Gray; Robert Gray; George Haug; Noel Hayes; Eamonn Howlin; Anthony Robin Kearon; John Langan; John Paul McManus; and John Michael B Peart.