The Commercial Court has been told that Anglo Irish Bank has rejected a proposal from its former Chief Executive David Drumm to settle the bank's case against him.
Anglo Irish Bank is taking action against Mr Drumm over unpaid loans of over €8m.
The case is due to be heard in October.
Last month, Mr Drumm wrote to the bank offering to settle the case. Today, counsel for Anglo Irish told the Commercial Court that the bank had rejected Mr Drumm's offer, and that the bank was anxious that the trial date of October 26 be kept to.
The Court was told that a counter-proposal had been offered, and counsel for Mr Drumm will respond to that offer by the end of the week.
Mr Justice Peter Kelly said he wished to be kept informed of developments so that time was not set aside needlessly for a trial.
The matter will be mentioned again in the Commercial Court on Friday July 30.
