Anglo tries to recoup €26m in loans from insolvent businessman

ANGLO Irish Bank is seeking judgment orders for €26 million arising from personal loans made to insolvent well-known businessman Brendan Murtagh, whose total liabilities are estimated at €353m.

A solicitor for Mr Murtagh told Mr Justice Peter Kelly yesterday it would make more sense for all, including the taxpayer, if state-owned Anglo waited until December to make its claim as the sum due was likely to be increased then by an additional €6m arising from a potential Capital Gains Tax liability.

It was a “first” for a defendant to argue a bank was understating its claim, the judge remarked.