Anglo Trial: Regulator’s proposal left O' Sullivan speechless

A director at Anglo Irish Bank was left “speechless” after a representative from the financial regulator suggested the bank consider releasing the Quinn Group from a €250m guarantee.

Michael O’Sullivan, who was divisional lending director at the bank from 2005, told the trial of three former Anglo directors that he didn’t think it was “total coincidence” that the suggestion came six days after Seán Quinn had made a similar request to the bank.

Seán FitzPatrick, William McAteer, and Pat Whelan, have pleaded not guilty to all charges at Dublin Circuit Criminal Court.