High Court green-lights another year for Anglo probe, refuses request for three more years

Former Anglo chairman Sean Fitzpatrick

The High Court has given the Office of the Director of Corporate Enforcement a further year to continue its investigation into the collapse of Anglo Irish Bank.

The bank's former chairman Sean Fitzpatrick and two former directors are before the courts on criminal charges arising from the investigation.

The ODCE investigation began in February 2009 with the seizure of millions of documents relating to Anglo Irish Bank.

Since then, it has looked at five issues, some of which remain live - including a loan to a former Anglo director and a back-to-back deposit arrangement between the bank and Irish Life and Permanent in September 2008.

Una Ní Rafferty for the DPP told the court a significant piece of evidence in the form of a statement had progressed the investigation into the ILP deposit.

The probe has resulted in criminal charges against ex-Anglo Chairman Sean Fitzpatrick and two former directors at the bank

Mr Justice Peter Kelly refused the ODCE's request to extend the inquiry for three years in case that would lead to any lessening of intensity of the investigation, but he has agreed to extend it for another year.

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