Lenihan admits proposals amount to ‘wind-down’

FINANCE Minister Brian Lenihan has admitted that his department’s new plan for Anglo is effectively a wind-down of the toxic bank.

“It is a work-out, but you can call it a wind- down if you like. But it’s over an extended period of years, and it’s an orderly work-out of the institution in question,” he said yesterday.

Anglo management had wanted to carve a new business out of the institution by splitting it into a ‘good bank’ and a ‘bad bank’.