Ex Anglo Irish chief bankrupted

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The Independent Online

The former chairman of Anglo Irish Bank was yesterday declared bankrupt after failing to repay loans to the government-owned lender.

Sean FitzPatrick, who resigned as chairman before Anglo Irish was nationalised in early 2009, had asked for the declaration after failing to settle claims relating to around €110m (£92m) owed to the bank.

Anglo Irish, whose rescue is expected to cost Ireland at least €22bn (£18bn), had vetoed Mr FitzPatrick's original settlement proposal, which included offering up his family home and giving up some of his pension, according to documents lodged with the court.

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