Courts / Dublin / Report
Action against former Anglo exec can proceed
Summary
The Commercial Court has re-entered a civil action against former Anglo Irish Bank executive Thomas Browne, fixing a six-week hearing for April 2020. The case, originally scheduled for October 2012, was previously adjourned to avoid conflict with criminal proceedings involving former Anglo Chairman Sean Fitzpatrick and senior executive Pat Whelan. Fitzpatrick was cleared of all charges, while Whelan was sentenced to 240 hours of community service in July 2014 for involvement in illegal loans. In the current civil proceedings, the Irish Bank Resolution Corporation (IBRC) disputes claims regarding approximately €50m in loans advanced to Browne prior to the bank's collapse. Browne, of Brighton Road Foxrock, denies liability, arguing that the bank was allegedly aware that Sean Quinn's interest in the bank undermined its stability and rendered shareholdings valueless. Browne contends that had he known of these matters, he would not have exercised his share options in late November 2007 or retained shares that subsequently became worthless. During the brief mention before Mr Justice Robert Haughton, counsel for IBRC, Paul Gardiner SC, noted that the sum sought would be revised downwards following the sale of certain assets. The judge agreed to re-enter the case and set the trial date, noting the matter was adjourned from its previous listing rather than concluded.
Who, what, where, when and why
What: Report matter: Action against former Anglo exec can proceed. Procedural stage: sentence
When:
- October 2012 Adjournment
- July 2014 Other
- April 2020 Hearing Or Sentence
- November 2007 Other
- 2005 and 2007 Other
- 2019-06-24 Publication
Case subjects
Applicant
Applicant
Places mentioned
- Brighton Road
- Dublin
Topics
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