€188 a month: Seanie’s fall from grace

HIS wealth was estimated at a staggering €55 million in 2008, but yesterday former Anglo chairman and bankrupt Sean FitzPatrick told the High Court he now has an income of just €188 a month.

A statement of affairs provided to the court as part of Mr FitzPatrick’s bankruptcy proceedings disclosed that the former bank chief has debts of more than €145m, compared with assets of just over €47m.

In the statement to the court, Mr FitzPatrick revealed he receives €3,693 per month net of tax, as payment from an Irish Life Annuity. But his submission showed that is virtually wiped out by the net loss of €3,505 per month he makes on three properties, a house in Bray and apartments at Smithfield Market, Dublin, and Killiney Court, Killiney.