Anglo partners handed $650,000
FitzPatrick, McGann, Coulson and McNamara among members
An investment partnership including former Anglo Irish Bank chairman Sean FitzPatrick, and some of the most high-profile names in Irish business, received about $650,000 (€576,000) in distributions in 2015.
The partnership - entitled Anglo Irish JCF 1 Limited Liability Partnership (LLP) - also includes Paddy Power Betfair chairman and former Anglo non-executive director Gary McGann, property developer Bernard McNamara, Ardagh chairman Paul Coulson and John Olan Sisk, according to UK Companies House documents.
The documents state the partnership's principal activity is to invest in a Cayman Islands-registered fund entitled JC Flowers II Limited Partnership.
It was incorporated in October 2008, four weeks after the blanket bank guarantee.
The partnership's latest accounts, covering the year to the end of December 2015, state that $1,019,062 was given to the partnership by the JC Flowers fund, with $352,931 of that reinvested in the fund.
The accounts state the partnership was owed a sum of $484,495 from the IBRC as of December 31, 2015, describing this as deposits held for the partnership at the time of the IRBC entering special liquidation.
The accounts - filed last autumn - state that recovery of the sum was "still under discussion" with the NTMA in its role as operator of the eligible liabilities guarantee (ELG) scheme, a successor scheme to the blanket bank guarantee, which covered certain liabilities of Irish banks.
The ELG scheme is operated by the NTMA and was closed to new liabilities in 2013.
The accounts state the LLP also made a claim as a creditor in the special liquidation of IBRC "as a precautionary step in the event of the ELG Scheme operator failing to make a payment".
"It is anticipated recovery of this amount should occur in 2016 and discussions are still ongoing with the joint special liquidators of IBRC," the accounts state.
Eamonn Richardson and Kieran Wallace of KPMG, the joint special liquidators, declined to comment on whether the sum had been paid. The NTMA also declined to comment.
The accounts also state that the IBRC had provided loans to the partnership.
"The balances on these loans at 31 December 2015 is $40,381... no interest has been charged on these loans and they have no fixed repayment terms," the accounts state.
The value of the partnership's investments stood at $3,609,209 at the end of 2015, down from $4,416,492 at the end of 2014 - a reflection mainly of distributions made by JC Flowers to the partnership.
FitzPatrick was last week acquitted on foot of a direction by the judge of allegedly misleading Anglo's auditors about a series of loans. The judge said an investigation by the Office of the Director of Corporate Enforcement (ODCE) "fell short of an unbiased, impartial, balanced investigation that an accused is entitled to".
One ODCE investigator had destroyed potentially relevant evidence during the probe.
Sunday Indo Business