Lenihan not aware of Anglo loan extension to FitzPatrick

FINANCE Minister Brian Lenihan was not aware of a multi-million euro loan extension granted by Anglo to a company part- owned by its former chief executive, Seán FitzPatrick, on the same day the troubled bank was nationalised.

On January 21, 2009 — the day laws were enacted to put the bank into state ownership at a cost of €22 billion to the taxpayer — Anglo topped up a loan for Mr FitzPatrick’s property company to buy a plush €10.25 million villa in the French Riviera.

The Department of Finance was not made aware of the bank’s decision to top up a €14.6m loan with a further €2.6m.