Published 29/01/2012 | 05:00
A boring accountant by official designation, Bernard Somers's activities are anything but boring in reality. He has been an adviser to Sean FitzPatrick on his debts and to some of the biggest names in Irish business. He's a former AIB and Central Bank director, an investor and a sought-after board name.
But perhaps his most famous role has been as a debt-fighting supremo for some of the country's biggest firms. He revived Waterford Crystal, advised on cutting costs at CIE and was examiner to Xtravision in the Nineties.
It was Somers who put together a turnaround plan to save Aer Lingus from €2m- a-week losses in 2001. In the Nineties he advised Larry Goodman on his submissions to the Beef Tribunal and Ben Dunne in his family trust case.
Along with two other independent directors, he supported Jim Flavin's retention at DCC after an insider-trading case several years ago (though Flavin subsequently resigned).
He is the principal of Somers & Associates, which specialises in debt-restructuring for firms and individuals, often with multi-billion euro liabilities. He stepped down from the AIB board in 2008 to avoid any conflict of interest with the demand for his debt-troubleshooting services.
He's on the board at DCC, ICG and Commerzbank Europe. He's also a long time director and shareholder in World 2000 entertainment, which has produced several blockbuster TV shows and films.
Sunday Indo Business