Former Bank Boss Close to Bankruptcy


Former chairman of Anglo Irish Bank, Sean FitzPatrick is set to be declared a bankrupt by the court when it blocked his attempt to agree on settlement terms with his creditors. In a meeting with his creditors in his Dublin office, FitzPatrick apologized to them saying that the financial crisis had left him in severe difficulty as almost his entire net worth consisting mainly of shares in Anglo, AIB and the Bank of Ireland had been wiped out. At the meeting also, FitzPatrick gave details of a proposed arrangement which would give him time to repay creditors some of their debts as his assets are sold in order over a period of time. He also apparently offered his family home and half of his pension as part of the settlement proposal but his creditors were not interested.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Tampa Bay Bankruptcy Center, P.A. | Attorney Advertising

Written by:


Tampa Bay Bankruptcy Center, P.A. on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.