Conflict of interest concerns highlighted in IBRC case

Former Anglo Irish Bank chairman Seán FitzPatrick and senior executive Pat Whelan have told the Commercial Court they were concerned an action due to be heard later this month against the bank’s ex-head of lending may conflict with criminal proceedings pending against them.

Both men have been subpoenaed by Thomas Browne to give evidence as part of his defence to an action by Irish Bank Resolution Corporation, formerly Anglo, over €50m loans advanced to him.

Mr Browne, of Ferney Hill, Brighton Rd, Foxrock, Dublin, head of lending at Anglo between 2005 and 2007, claims he has no liability on grounds including, when the loans were made, the bank was alleg-edly aware the interest acquired by Seán Quinn in the bank was such as to undermine its stability and render his shareholding valueless.