The controversial former chairman of Anglo Irish Bank has decided not to attend an Oireachtas Committee meeting tomorrow, citing legal reasons.
Seán FitzPatrick had been invited to appear before the Economic and Regulatory Affairs Committee to discuss his part in the bank's problems. External auditors Ernst & Young have also refused to appear.
The bank's annual report for 2008 is expected to be published later this week.
Meanwhile, the Financial Regulator has confirmed that it is investigating loans given by Anglo Irish Bank to a group of investors to buy shares in the bank last year.
In a statement yesterday, the regulator rejected claims that it was aware of any so-called 'sweetheart deal' relating to the purchase of Anglo Irish Bank shares in 2008.
The regulator said it was not aware of the identity or the financing arrangements of a 'golden circle' of ten investors, adding that these details emerged during the due diligence process carried out in the lead-up to the nationalisation of Anglo Irish Bank.
The watchdog said it was aware of a large position, though to be 25%, held in Anglo Irish by businessman Seán Quinn through contracts for difference (CFDs), which allow investors to own shares indirectly. Mr Quinn converted this into a 15% stake in ordinary shares.
