Anglo pursue former executive for repayment of €6m retirement package

The retired chief executive of the former Anglo Irish Bank operation in the UK is being pursued for the repayment of most of his 2005 retirement package worth around €6m.

Anglo’s successors, Irish Bank Resolution Corporation, now in special liquidation, wants John Rowan to repay the money, claiming the payment was not approved at a general meeting, as required by law. The package was agreed in 2005 between Mr Rowan and then Anglo CEO Sean FitzPatrick, it is claimed.

Yesterday, Mr Justice Peter Kelly granted Mr Rowan’s application to have the case against him transferred to the Commercial Court.