Central Bank refusing to hand over documents to Joan Collins

The Central Bank is opposed to handing over certain unidentified documents to United Left TD Joan Collins for her action challenging the Government's payment of €31 billion promissory notes under the recapitalisation of former Anglo Irish Bank and the Irish Nationwide and Educational Building Societies.

It had been anticipated agreement would be reached between lawyers for the State and Ms Collins about the documents necessary for the case, to be heard by a three-judge High Court.

When the action was listed before the three judges yesterday for case management purposes, Michael McDowell SC, for the State, said the Central Bank was not involved in the proceedings but was opposed to certain documents being made public and was insisting these remain confidential.

John Rogers SC, for Ms Collins, said this was the first time his side had heard of any difficulty.

Promissory note
It was understood all relevant documents had been provided for the earlier challenge by businessman David Hall to the promissory note payments, the court heard.

Ms Justice Mary Laffoy, sitting with Ms Justice Mary Finlay Geoghegan and Mr Justice Gerard Hogan, said the court had assumed there would be no need for discovery applications and there would be no dispute as to the relevant facts and documents necessary for the hearing. If agreement could not be reached, the court would address the matter at a later stage, she said.

The court made directions for exchange of documents between the sides and listed the action for further case management on October 3rd when a hearing date may be set.

Lawfulness of IBRC Act
Mr Rogers confirmed Ms Collins intended to pursue claims concerning the lawfulness of provisions of the IBRC Act 2013, which provided for the special liquidation of Irish Bank Resolution Corporation, formerly Anglo.

Ms Collins, who represents Dublin South Central, claims the promissory note payments, proposed as part of the €31 billion recapitalisation of Anglo and the two building societies announced by the minister for finance in 2010, is unlawful and unconstitutional.

She claims the promissory note payments are a profound attack on the democratic nature of the State because they amount to an appropriation of public money which was not authorised, as required by the Constitution, by a vote of Dáil Éireann.