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High Court allows appeal from decision of Financial Services Ombudsman on grounds that no oral hearing was held, and remits complaint for re-hearing.
Financial regulation - s. 57CL(1), Central Bank Act 1942 - appeal from decision of Financial Services Ombudsman - loan of €17m - alleged oral agreement that loan to be services from rents from properties - whether borrowers in default of loan - (quaere: whether matter appropriate for determination by FSO) - function of FSO - limits of FSO's jurisdiction - whether oral hearing of complaint should have been held - whether bank's denial of oral agreement could be accepted without being subjected to cross-examination - whether assertions could be accepted at face value - whether decision would have inconvenient consequences for FSO's office - obligation of FSO to uphold the constitutional right to fair procedures.
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