Central Bank appoints inspectors to Custom House Capital

Brendan Burgess

Brendan Burgess

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On Friday last, Mr Justice Hogan made orders appointing George Treacy, head of the Central Bank investments service providers supervision division, and Noel Thompson, an authorised officer within that division, as inspectors to Custom House.

The orders were made following an ex-parte (one side only represented) application by the Central Bank under the EC (Market in Financial Instruments) Regulations, 2007.
This was the first time such an application was brought by the Central Bank and the case was adjourned until yesterday to allow Custom House an opportunity to challenge the orders.


After the court heard there was no challenge, the judge confirmed the appointments and adjourned the matter until next week for preparation of the inspectors’ report.
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Comment on the news last night was something to the effect that as legislation was not in place to allow the central bank to step in and run the company, it was best to bring in the liquidator.
 
Who would have wanted to hand over their money to guys with this kind of reputation;

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A lot of people knew what Bernie Madoff was doing.

They didn't mind so long as the money came in for them.
 
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