Bank document worker had 'limited knowledge' on Maple 10, trial told
A BANK worker has denied there was anything underhand in how documents for the Maple 10 loans were prepared.
Elma Kinane said she was given a list of the bank's 10 largest customers by Pat Whelan, but had limited knowledge about the borrowers when she drafted the paperwork "quickly", a court heard.
The lending manager admitted she made certain assumptions in her wording – including that the investors had approached the bank and that they had hoped to cash in on the bank's falling share prices – and presumed any mistakes would be corrected when she sent the documents to her superiors.
Ms Kinane also believed her team had to keep the loan-for-shares deal quiet from others within Anglo Irish Bank, so she could not check the borrower's financial status with other teams.
"My understanding was not to speak to them (borrowers) and not to speak to other teams, to keep the knowledge of CFDs within our team," said the leader of Team 91.
Under cross-examination at the trial of three Anglo executives at Dublin Circuit Criminal Court, Ms Kinane denied any inpropriety.
"If there was someone in this room who would say there was something underhand in the way you prepared these memos, what would you say?" asked Lorcan Staines BL, for Mr Whelan.
"They would be wrong about that," Ms Kinane replied.
She said her team did what they were instructed, followed templates given by Mr Whelan, and understood the plan had been approved by the board of the bank.
"If there was any information that was incorrect I would have expected it to be reviewed and removed prior to signing," she added.