Three businessmen who received loans totalling almost €10 million from Anglo Irish Bank claim that the bank deliberately misled the Financial Regulator about impaired loans.
Anglo Irish Bank is suing John Flanagan, Gerry Lillis and Ted Joyce for €9,890,620 plus interest.
The bank said it made four loans - to Flanagan alone, to Flanagan and Lillis, to Atlantis Developments Ltd (guaranteed by Flanagan and Lillis), and to Liscannor Properties Ltd, guaranteed by Flanagan and Joyce.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team