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Signage from the Anglo Irish Bank headquarters in St Stephen s Green, Dublin is removed.Photo by Damien Eagers
FitzPatrick resigned as chairman in ignominy. The word “disgraced” was routinely affixed to his name. Early on in the crash, he became a lightning rod for public anger.
Drumm, who fled to the United States, was the biggest name of three Anglo executives to end up in jail after the bank’s collapse.
FitzPatrick was ultimately acquitted of all charges against him at the Dublin Central Criminal Court, but he was later fined €25,000 and banned from practising as an accountant at a professional tribunal.
Back in their Celtic Tiger heyday, the two leading figures at Anglo Irish Bank, David Drumm and Seán FitzPatrick, were feted as heroes in the world of high finance in Dublin.
The High Court (Simons J), in a recent decision delivered on 18
January 2021 [
AIB v Joe O Callaghan &
others
2] considered and ultimately refused the
plaintiff bank s (the “
Bank”)
application for special leave to use their deponents
affidavit evidence without producing the deponents for
cross-examination.
Facts
The Bank issued summary judgment proceedings against the
defendants in 2016 seeking to recover monies allegedly owed to it
pursuant to a 2008 loan facility. In March 2017, it brought a
motion seeking liberty to enter final judgment against the first,
second and fourth named defendants. Judgment was entered against
the third named defendant via the Central Office as he had not