A dispute between Bank of Ireland and Brinks-Allied Ltd over the transport of cash is to come before the High Court today when the bank will seek an injunction against the company.
After hearing from counsel for both sides yesterday, Mr Justice John McMenamin said there was a degree of urgency in the case and he would hear the injunction application today.
Bank of Ireland wants an injunction directing Brinks-Allied to perform obligations under an agreement of December 1st, 2002 under which, the bank claims, Brinks agreed to provide cash management services for BoI's ATMs and, in particular, to collect cash from its cash centre for delivery to ATMS and to remit excess cash from ATMS to its cash centre.
The bank is also seeking an injunction directing Brinks to perform obligations under an agreement of July 21st, 2003 relating to cash-in-transit.
Alex Owens SC, for BoI, said Brinks had received a direction from its US parent company to break contracts with the bank unless the latter was prepared to agree to carry up to 88 per cent of the loss in the event of money going missing.
In the last few days, some BoI branches had been depleted of cash while other branches were carrying too much cash, which was a security risk.