An action against the State related to €36 million in loans made by the former Anglo Irish Bank to a businessman for property development has been dismissed.

The High Court found John Morrissey's case against the Minister for Finance, Ireland and the Attorney General, in which he alleged his constitutional rights were breached by the sale of his loans to an investment company, was "no longer maintainable."

Mr Morrissey, of Palmerston Road, Ranelagh, Dublin, had claimed the 2013 Irish Bank Resolution Corporation (IBRC) Act – allowing his loans from Anglo to be sold on without his consent – breached his rights under the Constitution and European Convention of Human Rights.

The court previously struck out his case against IBRC, Anglo’s successor, and against the IBRC special liquidators as well as against LSREF III Stone Investments, which acquired Mr Morrissey’s loans.After judgment in separate proceedings by LSREF seeking judgment against Mr Morrissey, the State defendants applied for orders dismissing the case against them.

Ms Justice Caroline Costello ruled Mr Morrissey no longer had standing to continue his case against the State defendants.