philbrooks
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- Apr 23, 2008
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Adam Clayton sues bank over missing €4m
Posted Tue 6 Jul 2010 11:27 BST by Music Editor in Behind The Music
U2 bassist Adam Clayton is suing his bank after his personal assistant was accused of withdrawing €4m (£3,320,202) from his account over a five-year period.
Clayton had given his former PA Carol Hawkins full authorisation to operate his bank accounts but said he "couldn't be bothered" to read his statements which would have shown that money was being drained from his account.
Bank of Ireland Private Banking barrister Michael McDowell said Mr Clayton seemed to think the bank should have noticed more than €4m (£3,320,202) was "haemorrhaging" from his accounts between 2004 and 2009.
The guitarist was also accused of "putting the cart before the horse" in trying to fast-track this "derivative" case against the bank and his accountants when his separate action against Ms Hawkins had yet to be heard.
The guitarist brought a claim against Ms Hawkins last year in which he alleges she bought a New York apartment in his name and also spent €900 (£747) a month on a horse racing syndicate.
Clayton had been aware of missing funds after Ms Hawkins confessed in September 2008 to stealing "about €15,000" (£12,450) but he allegedly made no effort to inform his bank of the incident.
It is now claimed that in fact €4.3 (£3,569,217) million was missing in October 2008, while a further €450,000 (£373,522) had disappeared by October 2009.
An application to have the case fast-tracked has been refused and the case will now go to the High Court instead.
Heart bleeds for the lad