Thursday 22 February 2018

Emmet Oliver: Fingleton the latest banker to face heat

Emmet Oliver

First Sean FitzPatrick, then David Drumm and now Michael Fingleton. Ireland's banking executives -- contrary to popular wisdom -- are not escaping the consequences of the property crash and the banking crisis.

FitzPatrick is bankrupt and Drumm soon will be, while Michael Fingleton is for the first time facing ramifications from the investment decisions he made during the latter stages of his career.

While bankruptcy is unlikely to await Fingleton at this stage, there is no underestimating the financial pressures he is under following yesterday's decision to register a €13.6m judgement against him for unpaid loans given by Ulster Bank. Fingleton has significant assets, including four apartments in Dublin 4, four houses in Mayo and a penthouse apartment in Galway Bay Golf & Country Club.

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