The liquidator of finance company Taylor Asset Managers, which collapsed in 1996, has applied to the High Court to restrict five of its directors, one of them the television personality Eddie Hobbs.
In proceedings long-delayed by the criminal case against company founder Tony Taylor, who has served a prison sentence for fraud over his role in the affair, liquidator Paddy McSwiney went to the High Court in July for an order to restrict the directors.
Mr McSwiney is obliged to make such an application, which is procedural, even if he believes some directors acted fairly and honestly.
A full hearing of the case, which came before Ms Justice Mary Finlay Geoghegan last week, is likely to take place next month.
The application concerns Mr Taylor and his wife Shirley, as well as Mr Hobbs and directors Tom Carroll and Tom Lynch.
Mr Hobbs said last night that he could not comment because the matter was before the court.
Mr McSwiney made his application under Section 150 of the 1990 Companies Act.
A person against whom a restriction order is served is unable to act as director of a company unless it has paid-up share capital of €63,487.
It is understood that Mr Hobbs is vigorously contesting the liquidator's application.
He was a director of Mr Taylor's company when it went bust in 1996 with some millions of pounds of clients' funds missing.
Mr Hobbs claims he had left the business some time before that, but had a 24 per cent stake in the operation when Mr Taylor absconded and the group collapsed.
Mr Taylor was convicted of fraud in 2001 after he was tracked down in England.
Mr Hobbs has characterised himself as the whistleblower who helped bring a stop to Mr Taylor's activities by informing the authorities.
