Government told in 2009 that Anglo backed Quinn exposure
Startling new documents obtained by the Quinn family reveal the intimate level of knowledge the Irish government had of Sean Quinn's financial relationship with Anglo.
The family have obtained a report written by the law firm Arthur Cox, which warned the government in early 2009 that the bank had advanced hundreds of millions of euro to Quinn to cover his mammoth exposure on the bank's share price.
The report was prepared for the Dept of Finance, and released to Quinn Family as part of the discovery process by the family's 2.4 billion legal claim against the the bank.
A separate report prepared by the bank in 2009, was also obtained by the family, reveals how the bank admitted that it disguised loans to cover share losses as " working capital facilities"
Full Story in Sunday Business Post.
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