The High Court has granted an order disqualifying a former National Irish Bank executive from acting as a director of any company for a period of 10 years.
The application to disqualify Nigel D'Arcy from Straffan, Co Kildare, from holding directorships was taken by the Director of Corporate Enforcement, Paul Appleby. Mr D'Arcy - a former head of financial advice and services at NIB - consented to the disqualification.
Giving his judgement, Mr Justice Peter Kelly noted that Mr D'Arcy had already resigned from the boards of two firms. The Director of Corporate Enforcement did not seek costs of the action from Mr D'Arcy but said this should not be taken as a rule for other cases.
The action against Mr D'Arcy is the first of nine cases linked to a tax evasion scandal at NIB in the 1990s. The applications by the Director of Corporate Enforcement follow last year's report by the inspectors appointed by the High Court into financial dealings at NIB between 1988 and 1998.