Up to 100 Anglo shareholders ready for court battle

UP TO 100 disgruntled Anglo Irish shareholders are expected to jointly support a civil action relating to the bank’s mismanagement.

Among those in the shareholders’ sights are directors, including disgraced ex-chairman Sean FitzPatrick, the bank’s auditors Ernst & Young and their insurers, — believed to be liable for between €500 million to €1 billion.

The exact form of the legal action is yet to be decided. Cases claiming breach of confidence, fraud and negligent misrepresentation are being considered.