Sean Quinn’s family to receive transcript of the trial of three former Anglo Irish Bank executives 

The family of bankrupt businessman Sean Quinn is to receive a transcript of the trial of three former Anglo Irish Bank executives to use in 2 upcoming civil actions.

Pat Whelan and Willie McAteer were convicted last April of illegally lending 450 million euro to the Maple Ten group of investors to buy shares in the bank in 2008 as the stock fell.  Their co-accused, former Chairman Sean Fitzpatrick, was acquitted.

Pat Whelan, Anglo Irish Bank’s former head of lending in Ireland and the bank’s former Finance Director Willie McAteer were sentenced in April to 240 hours of community service for taking part in an illegal share support scheme.  They were acquitted by a jury on a further six charges of issuing illegal loans to the family of former Cavan billionaire Sean Quinn.

Today lawyers for the Quinn family secured the transcript of the criminal trial to use in two upcoming civil actions against the former Anglo Irish Bank, now IBRC, and the Central Bank.  It’s hoped this could shorten proceedings because there is so much overlap between the cases.

When the transcript was first sought a couple of weeks ago, lawyers for Willie McAteer and Pat Whelan objected to the move calling it a ‘fishing expedition’ but today they withdrew those objections and Judge Martin Nolan made the order.