Poor files to undermine IBRC loan sale
During the boom years, Anglo Private was very active in putting together highly leveraged property and other types of investment funds to high net worth individuals. Anglo Irish Bank also provided the loans to these high net worth individuals to invest in these funds.
Most of these funds are under water, which means there is now very poor collateral against the loans. But a source with direct knowledge of the situation said that there was inadequate due diligence in the personal loans drawn up by the former Anglo Irish Bank.
