RTÉ and The Irish Times are separately preparing to return to the High Court to seek confirmation they can report TD Catherine Murphy's Dáil statement about Denis O'Brien's banking arrangements with IBRC.

Former IBRC chairman Alan Dukes said Ms Murphy's information was fundamentally wrong, however, the TD has said she was confident of her sources.

Mr Dukes said he is satisfied the bank acted properly in its dealings with Mr O'Brien.

Mr Dukes said everything was done with a view to securing the best possible return for the bank and the taxpayer.

Meanwhile, Fianna Fáil is calling for legal counsel representing the Houses of the Oireachtas to join this week's High Court action.

The party wants Constitutional protection reasserted over the reporting of comments made by members of the Oireachtas, under privilege.

Several politicians, including Minister for Transport Paschal Donohoe, have labelled it unacceptable that media outlets in Ireland are unable to report comments made in the Dáil by Ms Murphy about Mr O'Brien's dealings with IBRC.

Speaking on RTE's Morning Ireland, former attorney general Michael McDowell said Ms Murphy's comments, under Oireachtas privilege, "should trump" the private interests of Mr O'Brien in terms of business borrowings from a bank.

Mr McDowell said he believed that the court order did not extend to the situation to cover Ms Murphy's comments.

He said: "The second thing I think a court will do is to look at the reality that the speech is now in the public domain and it will be absurd and futile to order some media in Ireland not to report it"

On the same programme, Mr Dukes said that the bank always sought the best return for the taxpayers.

Mr Dukes said: "Nobody secured more favourable terms than others just because of who they were or the size of their loan. Everything depended on the circumstances of each particular case".

Legal counsel representing RTÉ and the Irish Times will seek confirmation that Ms Murphy's Dáil statement about Mr O'Brien's banking arrangements with IBRC can be reported on.

RTÉ said it is finalising the papers for the application to the High Court and will lodge them at the earliest opportunity.

A spokesman for Mr O'Brien said that the independent TD's information was fundamentally wrong.

Ms Murphy has said she is confident of her sources.