Tuesday 23 January 2018

Tom Lyons: Anglo 'was solvent' days before State pulled plug

The bank's ex-CEO tells Tom Lyons what was going on behind the scenes as the decision was made to liquidate

ANGLO MAIL: Former Anglo chief executive agreed to be interviewed for the 'Sunday Independent' via email.
ANGLO MAIL: Former Anglo chief executive agreed to be interviewed for the 'Sunday Independent' via email.

Tom Lyons

Mike Aynsley – the Australian former chief executive of Anglo Irish Bank – has been quiet ever since February 7, when Ireland took the dramatic decision to liquidate the bank overnight.

Code-named Project Dawn, the liquidation was a complete shock to Mr Aynsley and his board. They were in the middle of preparing the financial results for Anglo (by then renamed IBRC) which had finally begun to turn around.

All of a sudden it was all over: Mr Aynsley, his senior management team and his board were all out of their jobs. After the dust settled, the banker went home to Australia to visit his children.

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