Michael Fingleton has failed to convince the High Court to halt a legal action taken against him by liquidators for the Irish Bank Resolution Corporation.
The former CEO of Irish Nationwide Building Society is being sued for alleged negligence in relation to his management of its affairs during his tenure.
IBRC claims the €6 billion in losses it recorded between 2008 and 2010 arose from development loans made while Mr Fingleton was in charge.
His lawyers argued the case shouldn’t go ahead due to their client’s poor health following a stroke three years ago.
However, the judge said he was satisfied that the “balance of justice lies firmly on the side of permitting the proceedings to continue".