Anglo shareholders face legal quagmire
Investors have many avenues to explore in their bid for damages, writes Brian Gallagher
The revelation that loans to Sean FitzPatrick, the former chairman of Anglo Irish Bank, were greater than publicly disclosed in the bank’s annual accounts has caused considerable anger and was a major factor in the nationalisation of the bank.
The further disclosure that some of the loans obtained were used by FitzPatrick to purchase the bank’s own shares, thereby boosting public confidence in the bank, has added to the anger.
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