Developer unlikely to recover Anglo loans

Developer John Flynn is unlikely to recover any money from IBRC following his case alleging that he had been overcharged on €150m worth of loans from the former Anglo Irish Bank.

Finance Minister Micheal Noonan said in response to a parliamentary question that no matter what the outcome of the case, Mr Flynn would only have the status of an unsecured creditor in the IBRC liquidation.

Mr Noonan said in response to a question from Sinn Féin’s Pádraig Mac Lochlainn that it was unlikely Mr Flynn would recover his damages.