Lawyers for Michael and John Taggart quit court battle with Ulster Bank
Lawyers representing former housebuilding tycoons Michael and John Taggart in their multi-million pound legal battle with the Ulster Bank have withdrawn from the case, it has emerged.
The development, confirmed at the High Court, could result in the case being hit by further delay.
A scheduled three-week trial was supposed to be heard in February, only to be put back until May due to medical reasons. Now the legal team who had been instructed by the Taggarts have ended their association with the case.
No further details for their decision to 'come off record' were given.
The Taggarts – once described as the richest businessmen in Ireland – are suing the Ulster Bank for alleged negligence they say contributed to the collapse of their property empire.
In a counter claim, the bank has lodged writs for £5m and €4.3m (£3.5m) it says they owe in personal guarantees. Mr Justice Weatherup was told another law firm is interested in representing the brothers but would need more time.