Fitzpatrick to be declared bankrupt on Monday

THE former head of Anglo Irish Bank, Sean Fitzpatrick, is expected to be officially declared bankrupt on Monday after his former bank blocked a proposed settlement deal with his creditors.

Mr Fitzpatrick has liabilities of almost €150 million, including bank loans of more than €80m, and had argued his creditors would do best under his proposed deal.

Mr Fitzpatrick also has substantial assets, but the value of many of those has been affected by the property crash.