Anglo debtors will be pursued - Ryan

Monday 23 February 2009 11.04
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Eamon Ryan - Anglo debtors will be pursued
Eamon Ryan - Anglo debtors will be pursued
Anglo Irish Bank - Gave loans of €450m to ten people
Anglo Irish Bank - Gave loans of €450m to ten people

The Minister for Communications, Energy and Natural Resources has said the top 15 customers in Anglo Irish Bank who each owe €500 million will be pursued to repay the debts in full.

Green Party Minister Eamon Ryan said the Government was determined that all the debts would be discharged and failing this any assets provided in security for the loans would come under State control.

Speaking on RTÉ's The Week in Politics, Mr Ryan said that his party had not been aware of the particular customer details of Anglo Irish Bank customers when the bank was nationalised, but he said they did know that the bank had heavy property debts.

Minister Ryan added that he knew the Anglo Irish Bank model of lending was wrong for more than ten years.

Fine Gael's Simon Coveney said it was extraordinary that the coalition partners did not know the details of the potential bad debts at Anglo Irish Bank.

Deputy leader of the Labour Party Joan Burton, said she doubted the Green Party was fully informed about the Anglo Irish Bank debts before it was taken over by the State.

Meanwhile, a newspaper has published what it claims are the names of four of the ten people who received loans totalling €450m from Anglo Irish bank.

The so-called Golden Circle then used that money to buy shares in the bank.

In a report in the Sunday Times the four named businessmen are said to have declined to comment on the story.