U2 Bassist Suing Bank Of Ireland Over Misappropriated Millions

artist: U2 date: 02/28/2012 category: music news
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U2 Bassist Suing Bank Of Ireland Over Misappropriated Millions
U2 bassist Adam Clayton is suing the Bank of Ireland Private Banking and an accounting firm, claiming his former personal assistant Carol Hawkins misappropriated 4.8 million of his funds. According to an article last Thursday in The Irish Independent, Clayton says Hawkins took the money over a five-year period ending in November 2009. The suit names the Bank of Ireland as well as Dublin accounting firm Gaby Smyth & Co. The Irish Times reports that Clayton is seeking 4.38 million in damages (nearly $7 million dollars) from the bank and 4.8 million in damages ($7.5 million dollars) from the accounting firm for "alleged negligence and breach of contract". Clayton claims the accountants told him in September 2008 the actual misappropriated sum was 13,585 million when it was actually close to 4.4 million. Last November a judge made a series of orders and directions requesting both sides provide information and documentation prior to the hearing, but both parties want clarification of those orders. Mr. Justice Paul Gilligan stated he would clarify the orders and give his decision in approximately two weeks. Clayton has brought separate proceedings against Ms Hawkins. In January 2011, she was charged with 184 counts under the Criminal Justice (Theft and Fraud Offences) Act 2001. This is not the first time Clayton has gone to court over financial issues. As previously reported last year, he went after U2's financial mastermind Gaby Smyth for alleged negligence. U2, who completed their 360 world tour last summer, are off the road with no update on promised new music album. The band released their last studio album, "No Line On The Horizon", in 2009. Thanks for the report to Spinner.com.
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