Soden linked to Regal assets

FORMER Bank of Ireland chief executive Michael Soden has been linked with a deal to buy assets belonging to troubled British energy group Regal Petroleum.

Dow Jones Newswires reported yesterday that Mr Soden, who quit last year after it was leaked to the media that he had used his work computer to view adult material on the internet, was a director of Peak Resources, a Hong Kong registered vehicle.

Regal Petroleum shares plummeted last week after the company said its former chief executive had sold off its main assets under a secret deal with Peak. Peak was said to have bought oil supplies in the Ukraine at around 25% of the prevailing price for energy assets in the region.