Anglo to sue former chairman to recover €70m loan

11/03/2010 - 19:49:02
Anglo Irish Bank has begun legal action against its former chairman Sean Fitzpatrick to recover loans of around €70m.

The bank entered a summary summons in the High Court this afternoon. There will now be a hearing at the Commercial Court.

Mr Fitzpatrick had a deadline of yesterday to submit proposals to re-pay the loans.

If the bank is granted a judgement against him, steps could be taken to seize his assets.