IL&P could face suits over Anglo scandal

IRISH Life and Permanent could face lawsuits and fines stemming from its role in the Anglo Irish bank scandal as it plans a new structure.

The Financial Regulator is probing Irish Life after it said earlier this year that it had made “wrong” deposits with Anglo, which are being investigated.

In plans detailing the setting up of a new holding company, IL&P said that depending on the outcome of any investigations, enforcement authorities may seek to impose substantial fines and penalties.