Fitzpatrick agrees to divide assets in bankruptcy case

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.


More in this Section

Legal loophole for 70,000 drivers disqualified since 2012Legal loophole for 70,000 drivers disqualified since 2012

23-year-old man arrested following armed robbery in Cork city23-year-old man arrested following armed robbery in Cork city

Shooting the darkness: The Troubles in picturesShooting the darkness: The Troubles in pictures

Gardaí believe boy (16) was returning home from house party when struck by vehicleGardaí believe boy (16) was returning home from house party when struck by vehicle


Lifestyle

‘Children of the Troubles’ recounts the largely untold story of the lost boys and girls of Northern Ireland, and those who died south of the border, in Britain and as far afield as West Germany, writes Dan Buckley.Loss of lives that had barely begun

With Christmas Day six weeks away tomorrow, preparations are under way in earnest, writes Gráinne McGuinness.Making Cents: Bargains available on Black Friday but buyer beware!

From farming practices in Europe to forest clearances in the Amazon, Liz Bonnin’s new show seeks solutions to some of the damage done by the world’s appetite for meat, writes Gemma Dunn.New show seeks solutions to some of the damage done by the world’s appetite for meat

Louis Mulcahy reads in Cork this weekend for the Winter Warmer fest, writes Colette Sheridan.Wheel turns from pottery to poetry

More From The Irish Examiner