THERE will be a major dispute in an action by Anglo Irish Bankfor some €50m of judgment orders against its former head of lending Tom Browne, the Commercial Court heard yesterday.
The action concerns what Mr Browne knew about the stake built up by Sean Quinn in the bank.
Mr Browne wants to see a document over which Anglo claims legal privilege because he believes that document may support his claim Anglo directors withheld information from him related to Contract for Difference (CfD) positions built up by Mr Quinn in Anglo.
Mr Browne, head of lending at Anglo between 2005 and 2007, claims he has no liability on grounds including, when the loans were provided to him, the bank was allegedly aware the interest acquired by Mr Quinn in the bank was such as to undermine its stability and to render his shareholding valueless.
Had he known of such matters, he would never have exercised his share options in 2007 or held on to shares which became "worthless", he claims.
The case has been adjourned to next month.
Tim Healy
4 comments:
The net is closing at last and the silence of our elected representatives is deafening.
Isn't it remarkable also that Anglo is trying every trick in the book to block Sean Quinn from defending his good name and thereby denying him his constitutional rights.
The fact that they are alleging that he and two others would be held liable if the QUinn family win their case and at the same time denying him the opportunity to have any input in the full hearing is staggering and is indicative of the drastic and pathetic bully tactics of the junk bank. Sting of the dying wasp
Every person in Ireland deserves to be told exactly what went on in Anglo and please God that will happen in the full hearing in the High Court.
Dukes, Woodhouse, Aynsley etc will probably have run for cover by then with their big fat pensions that you, I, and everyone else is funding.
Them guys are not ordinary people they have no shame nor any respect for anyone. They turn on themselves just as quickly. Just look at Pat O'Neill and what he did. I would say that Paul O'Brien, Kieran Leonard, Paul Dixon and Paddy McGinley are feeling the heat now. If it's not Sean Quinn they will be somewhere in the world doing the same thing to some other company or person. They live for this and the same with the people who take over any company. They destroy it and have no respect for communities. How many people could live with themselves doing that job? Could you sleep at night after sacking someone with young children? Thankfully the days of bondholders and bankers are nearly over ripping off people and good companies.
The greater good will prevail
Anglo are doing everything they can to stop the Quinns from revealing the full facts.
They knew he would fight back and they they left him with noting hoping he couldn't do that.
The Communities of Fernmangh Cavan Leitrim and Monaghan are still behind you Sean.
FIGHT THEM FOR US ALL.
FIGHT THEM
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