State may be left with Anglo loans

Ireland may be left with a large portion of the former Anglo Irish Bank’s loans even as sovereign wealth funds, private-equity funds, and banks circle the first assets for sale, said Kieran Wallace, joint liquidator of the failed lender.

The first portfolio, codename Project Evergreen, has a par value of €3.5bn, said Mr Wallace. Thirteen loans in the portfolio will be sold by the liquidators at KPMG, appointed by the Government to wind up the bank. The total loan book for sale has a par value of €22bn.

Anglo Irish’s implosion following a property collapse five years ago pushed Ireland to the brink of bankruptcy in 2010, as its bailout cost neared €35bn.