Anglo changed terms of directors’ loans

Anglo Irish Bank made a number of significant non-recourse loans to directors, its annual report reveals, meaning the loans were not secured on any assets, except in some cases the shares of the bank itself.

21st February, 2009

Anglo Irish Bank made a number of significant non-recourse loans to directors, its annual report reveals, meaning the loans were not secured on any assets, except in some cases the shares of the bank itself.

In a number of cases the terms of these loans were subsequently changed to secure them on the other assets of the directors’ involved and all loans to directors and former directors are now believed to be subject to personal...

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