timesonline.co.uk/tol/news/w … 078743.ece
Anglo Irish Bank to reveal director loans
Anglo Irish Bank will reveal next week it has made a bad debt provision of more than €40m against the borrowings of Sean FitzPatrick alone.
As part of its results next week, it will go into unprecedented detail on the performance of loans advanced to former directors and key executives.
This will show not only how much they have borrowed but also what provision the bank has made against non-performing loans. It is owed more than €70m by FitzPatrick, its former executive chairman, and is understood to have made a provision of at least 60% against the loan. The bank has taken a charge against FitzPatrick’s stake in a Nigerian oil well, which could repay some of his debts but remains a high-risk investment.
The bank will also give an update on loans advanced to David Drumm, its ex-chief executive, and Willie McAteer, its former finance director, among other executives.
…(cont’d)
spqr64
March 28, 2010, 9:30am
#2
As an OP mentioned in the last week or so what is de gubberment trying to hide by pointing the spotlight at these guys whom the dogs n the street know broke the rules to put it mildly?
