Riordan tries to stop directors' postal vote

Legal action has been threatened against the European Investment Bank by Mr Denis Riordan

Legal action has been threatened against the European Investment Bank by Mr Denis Riordan. If the EIB's board of directors goes ahead with a postal vote this week on the nomination of Mr Hugh O'Flaherty, the Limerick lecturer has said he will seek an injunction to restrain the bank's board of governors - EU finance ministers - from acting on the nomination.

Mr Riordan has written to all 25 members of the board of directors, who are due to vote by the end of the week on Mr O'Flaherty's candidacy, using, as the bank describes it, "a written procedure". He told them he was "extremely concerned" at reports that it was their intention to vote by post.

"I now place you and the bank on notice that I will take an action in the European Court of Justice to seek a declaration that this mode of action is improper and will seek an injunction to restrain the board of governors from acting on such a nomination," the letter states.

Mr Riordan was unsuccessful last month in a Supreme Court challenge to the nomination of Mr O'Flaherty to the £147,000 a year EIB post.

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He told the directors that it was the bank's duty to set out criteria governing the qualifications, experience and skills necessary for his own candidacy to be considered by the EIB. "Without this, it is impossible for me to determine whether I wish to apply for the position", he stated.