Wednesday 20 September 2017

Former head of lending at Anglo seeks to subpoena FitzPatrick

Tim Healy

THE former head of lending at Anglo Irish Bank is seeking to subpoena some of its former executives, including chairman Sean FitzPatrick and CEO David Drumm, for his defence of the bank's claim for €50m in judgment orders against him.

Tom Browne may also subpoena bankrupt businessman Sean Quinn and 'Irish Times' journalist Simon Carswell, author of the book, 'Anglo Republic', for the trial of the action against him at the Commercial Court in October, a judge was told yesterday.

Mr Justice Peter Kelly was dealing with issues arising from the action by Irish Bank Resolution Corporation (formerly Anglo) against Mr Browne.

Paul Gardiner SC, for IBRC, said his side had received Mr Browne's witness statement and statements from two other persons concerning banking practices. It had also received a list of 14 people whom the defence may subpoena and it needed to know what Mr Browne said those people would say.

Most of the 14 were former employees or directors of the bank, including Sean FitzPatrick, David Drumm, Pat Whelan and Lar Bradshaw.

Others were not, including Sean Quinn Snr; Liam McCaffrey, the former Quinn Group finance director, and Mr Carswell, counsel said.

Micheal P O'Higgins SC, for Mr Browne, said his client had encountered difficulties preparing his defence as some people had said that because they had loans with Anglo they were fearful of being seen to assist him.

Hearsay

His side wished to rely on an AIB official, John Phillips, to prove that AIB had relied on Anglo shares as security, counsel also said.

Mr O'Higgins said Mr Carswell had written in his book that Mr Browne had been kept "out of the loop" in relation to the contracts for difference (CfD) shareholding held by Sean Quinn in Anglo.

Mr Justice Kelly said he could not see how Mr Carswell could be a witness as his book made clear that the information he was given was based on what someone told him, which made it hearsay. He was also sure Mr Carswell would refuse to divulge his source and the court would then be asked to jail him.

The judge also envisaged problems for Mr Browne in that David Drumm was outside the jurisdiction.

Mr Browne, of Ferney Hill, Brighton Road, Foxrock, Dublin, who was head of lending at Anglo between 2005 and 2007, claims that he has no liability for some €50m of loans.

Irish Independent

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