A long-running inquiry into the former managing director of the Irish Nationwide Building Society  - which collapsed in the banking crash ten years ago - has been wound up due to his ill health. 

Michael Fingleton was one of several Irish Nationwide executives under investigation by the Central Bank, following a €5.5 billion bailout for the society. 

In a recent submission to the inquiry, Mr Fingleton's son said "it would be inhumane and contrary to natural justice for the inquiry to continue" in respect of his father.  

In a statement at the weekend, the Central Bank said "the inquiry is permanently stayed in its totality as against Mr Fingleton" due to his illness. 

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The inquiry began public hearings in December 2017 into whether Michael Fingleton, former INBS chief financial officer Stan Purcell, former chairman Michael Walsh, INBS's one-time head of UK lending Gary McCollum, and Tom McMenamin, a former head of commercial lending, participated in a series of alleged regulatory breaches between 2004 and 2008. 

The inquiry has heard evidence about Mr Fingleton's health issues from eight doctors, which was redacted in the Central Bank statement.

The inquiry said that on the basis of that evidence from Mr Fingleton's doctors, it was satisfied that his health is permanently impaired to the extent that he is currently and, in all likelihood, will remain unable to effectively participate in the inquiry.  

"The inquiry members are further satisfied that to require him to participate in any way would be a failure to vindicate Mr Fingleton's right to dignity under the Constitution and under the European Convention on Human Rights, " it said.

"Where a person's right to participate meaningfully in the inquiry process cannot be vindicated, an inquiry against that person cannot proceed," the inquiry team said.

They also added that they were "mindful" of Mr Fingleton's advanced age.