Ulster Bank is planning to pay out “tens of millions of euros” in compensation to customers affected by a technical problem at the bank.

Chief executive Jim Brown said bank was talking to the Financial Regulator about how to apply the compensation but admitted a considerable sum of money, valued at “tens of millions of euros”, had been set aside. Details of the compensation scheme will be announced shortly.

He said customers had been severely inconvenienced as a result of the problem and the bank would refund any incorrectly applied fees and charges and ensure customers’ credit ratings were not damaged.

Mr Brown said it could take several more weeks to finally clear the backlog of transactions built-up during the technical fault.

He said most Ulster Bank customer accounts were now up-to-date, although a “small percentage” of outstanding transactions and incidents of double-charging were … Read More »

The High Court has ruled that a retired man is entitled to €315,000 from his late mother’s estate after finding she had failed to make proper provision for him.

Mr Justice Roderick Murphy made a declaration under section 17 of the Succession Act 1965 that the late Mary Boyle, who died in April 2001, had failed in her moral duty to make provision for one of her sons, Walter Boyle.

In her will, Mrs Boyle, whose husband, the late John Boyle, died in 1992, left all her interest in the licensed premises at the Square, Kildare, Co Kildare to her son Jarlath. That interest included shares in John Boyle Ltd, the company operating the pub business, stock, all business debts due to Mrs Boyle, a dwelling house, and the contents and furniture of the house.

Yesterday, Mr Justice Murphy ruled that Walter Boyle … Read More »