Saturday 23 September 2017

FitzPatrick facing High Court quiz over property

Tim Healy

FORMER Anglo Irish Bank chairman Sean FitzPatrick is to face cross-examination in the High Court about the ownership of one of London's highest office blocks.

He will be quizzed about the ownership of Woolgate Exchange as part of inquiries by an official appointed by the High Court to look into his affairs after he was declared bankrupt in July 2010.

Counsel for Mr FitzPatrick, Bernard Dunleavy, told the court there was no suggestion that Mr FitzPatrick had not co-operated with the court official. There was a concern about legal disclosure of documents -- discovery -- but a more focused discovery was now being sought, counsel said.

Mr FitzPatrick will be quizzed about the financing of the Woolgate property and the extent of his ownership of the London office block.

In July 2010, the High Court officially declared Mr FitzPatrick a bankrupt after being informed he was " bowing to the inevitable" having failed to get sufficient support from his creditors for a private settlement scheme to pay off his debts.

The former Anglo chairman from Greystones, Co Wickow, is thought to have debts of €150m, compared with assets of €47m.

Yesterday, Ms Justice Elizabeth Dunne said the matter could be mentioned on October 8 when a date for hearing could be fixed.

Irish Independent

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