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Sean FitzPatrick disciplinary tribunal delayed

Sean FitzPatrick - Subject of an investigation by the Chartered Accountants Regulatory Board
Sean FitzPatrick - Subject of an investigation by the Chartered Accountants Regulatory Board

The accountancy regulator has postponed a public disciplinary tribunal into former Anglo Irish Bank Chairman Sean FitzPatrick at the request of the Director of Public Prosecutions.

The tribunal was scheduled to begin in April.

The DPP was concerned any proceedings by the accountancy watchdog could prejudice possible future criminal proceedings, against any parties, arising from investigations by the gardaí and the Office of the Director of Corporate Enforcement.

The Chartered Accountants Regulatory Board is one of a number of bodies investigating Mr FitzPatrick's business affairs in connection with Anglo Irish Bank.

Mr FitzPatrick is an accountant and was the subject of an investigation by the CARB, which is his profession's watchdog.

It was one of a number of inquiries initiated into Mr FitzPatrick following the near collapse of Anglo Irish Bank.

In December, the CARB said it had established a prima facie case against a number of men including Mr FitzPatrick, the bank's former chief executive David Drumm, as well as former finance chief Willie McAteer and the former finance director of Irish Life and Permanent Peter Fitzpatrick.

In relation to Sean FitzPatrick, the CARB found he had a case to answer in relation to borrowings from Anglo Irish Bank that were kept secret from shareholders.

It also found he had a case to answer in relation to back-to-back deposits of almost €7.5bn from Irish Life & Permanent, which improved Anglo's year end accounts.

The tribunal was supposed to begin on 4 April.

In a statement, the CARB said this has now been adjourned until October following contact from the DPP.

The CARB is considering postponing disciplinary tribunals in relation to Mr Drumm, Mr McAteer and Peter Fitzpatrick.