Fitzpatrick agrees to divide assets in bankruptcy case

A relaxed looking Sean Fitzpatrick has appeared in the High Court which heard the bankrupt former Anglo Irish Chairman is co-operating with the division of his assets.

In a five-minute hearing the court made an order allowing the official assignee to proceed with discharging Mr Fitzpatrick's assets which include his share of the family home in Greystones, his pension and property interests abroad.

He owes €110m to Anglo Irish Bank and further sums to AIB, Bank of Scotland and Friend's First.

However, 92% of his debts are owed to his former employer the now State-owned Anglo.

Dressed in a grey suit, Sean Fitzpatrick evaded the media as he slipped into court for this morning's hearing.

Ms Justice Elizabeth Dunne heard he has submitted a statement of his affairs and is co-operating with the bankruptcy proceedings.

The judge has given the go-ahead to court-appointed official Chris Lehane to realise the assets of the former Anglo Chairman which include his pension and his share of the family home in Greystones.

The order came after lawyers for the nationalised lender, which is owed €110m by Mr Fitzpatrick, withdrew a motion to have their own trustee control the division of his assets.