The Minister for Finance, Brian Lenihan, has written to Irish Nationwide Building Society stating that the payment of a €1 million bonus to chief executive Michael Fingleton was in breach of the terms of the state banking guarantee. The Department of Finance is to seek the repayment of the money to the building society, though Irish Nationwide is likely to argue that it was part of a contractual commitment with Fingleton.
Lenihan is also believed...
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