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A DUBLIN BUSINESSMAN has sought a judicial review in the High Court of the Credit Institutions Act, under which the Minister for Finance can issue promissory notes to the IBRC.
RTÉ News reports that David Hall is seeking a declaration that part of the act be declared unconstitutional.
Hall was represented by John Rodgers SC in court. The case will return to court on Wednesday morning. Hall is taking the case under his own name, and it is not connected to New Beginnings, of which he is a founder.
Negotiations are currently underway with EU authorities “on the basis that the €3.06 billion cash installment due from the Minister to IBRC on 31 March 2012 under the terms of the IBRC promissory note could be settled by the delivery of a long-term Irish government bond”.
IBRC is the organisation formed following the merger of Anglo Irish Bank with the Irish Nationwide Business Society.
The payment is due on 31 March.
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You have my full support David.
A real person stands up – great. Good luck.
If there is to be a referendum on this matter would it be possible to also have a referendum on the issue of withdrawal of pensions for disgraced politicians on the same day. Killing two birds with the one stone so to speak. I imagine that the voter turnout could be above average.
Let’s have another €3,00000000000000000000 referendum , that will solve eh
David Hall can see the stupidity of the governments plan to turn a promissory note into a sovereign Bond. I am sure that this can be challeneged under a number of different methods… surely there is something in our constitution that says we must protect the rights of children… Because everyone inthe country knows, we are only kicking this issue down the road, and leaving the tab for our kids.
@ Cal: Based on a quick search through the Constitution, the only mentions of children seem to be regarding parenting.
Cal, my understanding is that the credit institutions act allows the government to create funds (seignorise) via the central bank, which was used to bailout IBRC (bondholders). This is what the judical review will be looking at rather than the governments attempt to socialise this debt.
A bit more detail on the proposed judical review.
http://m.brne.ws/ireland/decision-to-issue-anglo-promissory-notes-unconstitutional-court-told-545031.html
Fair play Mr Hall.
Well done..but be prepared for a hell of a fight from the government and Europe.
Isn’t that why we have a President, to ensure the Constitution is upheld?
Good point Jason.
David Hall for President!
Fair play to this David Hall chap, I’d pay my €100 ‘household’ tax (that I’m not paying to the government) toward this guys legal fund…..real justice!!!
Ditto
This has given me a lift…it makes me believe that there is a few people left in this country that will stand up and be counted..somebody with a bit of backbone…the rest of us just roll over and let them do what they want…
Best of luck to Mr Hall it would be brilliant if he was successful but I suspect to many vested interests will ensure he does not make progress.
Lets have a referendum on it, instead of it being decided over by several of our bewigged friends.
There is a referendum date being announced next Tuesday, surely we could vote on the two issues in the one day?
If us voters are mature enough to understand the fiscal compact treaty, then surely we can understand socializing private banking debt?
Thank David I dont know much about you & I would think you dont know me but without asking you represent me & my beliefs. Truimph or fail you are a true patriot & a great man.
Please check out http://www.notourdebt.ie as to why we should not pay an unjust debt!! ANGLO is NOT our DEBT
Based on the RTÉ article, it appears to be Article 17 he’s challenging it under.
“Article 17 1. 1 As soon as possible after the presentation to Dáil Éireann under Article 28 of this Constitution of the Estimates of receipts and the Estimates of expenditure of the State for any financial year, Dáil Éireann shall consider such Estimates.”
The definition of estimates is key it would seem.
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