Newbridge Credit Union case back in court - special manager to give evidence

Newbridge Credit Union is back in court.
LUke Charleton, the special manager appointed to run Newbridge credit union, has indicated he will agree to take the stand in the ongoing High Court case about the €563,000 fees sought for the job.

LUke Charleton, the special manager appointed to run Newbridge credit union, has indicated he will agree to take the stand in the ongoing High Court case about the €563,000 fees sought for the job.

Mr. Charleton was appointed by the High Court in January 2012 following concerns by the Central Bank about the credit union’s financial position.

Last month, when the court was asked to approve the latest fees sought, the credit union’s directors complained they were not given enough material to indicate precisely what work Mr Charleton and his team are doing.

The President of the High Court, Mr Justice Nicholas Kearns, adjourned the matter for hearing in four weeks.

Total costs so far for Mr Charleton, of accountants Ernst and Young, of his team and of lawyers, are expected to be close to €2 million.

- Paula Campbell