Court showdown in Nationwide spat

Not a good week for the doctors of spin at Irish Nationwide. Attempts to unburden itself of a branch manager not only landed it in court but left two employees, including chief executive Michael Fingleton, with a possible jail term hanging over them and the society's members facing sequestration of its assets.

The judiciary flexed its muscles in the way it can do only when its own rules and institutions are at stake, with Mr Justice Kelly outraged at attempts by the building society, as he saw it, to subvert orders previously handed down by the court to the effect that Cavan branch manager Mr Sean Martin should be retained in his position until a full hearing of the issue in the High Court.

Although internal disciplinary procedures resulted in a decision to fire Mr Martin, he is now back at his desk and it is Mr Fingleton who is released on "good behaviour" - i.e. an unequivocal commitment by lawyers for the society that it will retain Mr Martin as manager of its Cavan branch - until the action is heard. He may have to be patient. It now looks unlikely that the full hearing will take place this year.