Query over €15m transfer to secure FitzPatrick family loan

A COURT-APPOINTED official who is overseeing the bankruptcy proceedings of former Anglo Irish Bank chairman Seán FitzPatrick has questioned a transaction which saw €15 million transferred within Anglo to act as security against a loan to Mr FitzPatrick’s family.

In a document circulated to creditors yesterday, the High Court official said the transaction was on “very beneficial terms” to Mr FitzPatrick’s wife and three children.

According to a report on RTÉ news, the official said it was necessary to investigate the transaction and consider whether it amounted to a settlement under the bankruptcy act.