• Due to a glitch in the old vBulletin software, some users were "banned" when they tried to change their passwords at the end of February. This does not apply after the site was converted to Xenforo. If you were affected by this, please us viua the Contact us link in the footer.

Anglo refusing to release records to Corporate Enforcer: Judge says think again


He3

Moderator
Joined
Oct 1, 2008
Messages
17,094
Are Anglo Irish Bank bosses taking evening classes from the HSE?

The judge in charge of the Commercial Court has asked Anglo Irish Bank to consider 'at the highest level' and 'as a matter of urgency' whether it wants to continue to claim legal professional privilege over certain documents seized by the Director of Corporate Enforcement as part of his investigation into the bank.

Mr Justice Peter Kelly said Anglo Irish Bank was now wholly owned by the State.

He said it was 'incongruous' for a State-owned body to be claiming privilege over documents in relation to an investigation being carried out by an officer of the State.

The bank was entitled to claim privilege, he said, but he believed it should reconsider 'at the highest levels' whether it was wise, prudent or sensible to do so.
RTÉ News: Anglo asked to consider legal privilege
Adjourned for two weeks.
 


Libero

Well-known member
Joined
May 22, 2004
Messages
3,000
This will put Dukes and the boys on the spot.

How can they claim the bank is cooperating with the investigation if, eh, it's not cooperating with the investigation?

Lenihan also has to answer the same question. As Minister, he owns the bank and has special statutory powers to direct the bank's management how to act.

Why won't Brian Lenihan allow the truth to come out?
 

Lightning Rod

Active member
Joined
Nov 26, 2009
Messages
193
There is a reason why those docs are being hidden, links between bankers, developers and politicians tend to cause controversy.
 

Libero

Well-known member
Joined
May 22, 2004
Messages
3,000
The opposition should grab onto this issue like a dog with a bone, and direct all the questions straight at Lenihan.

He is the sole shareholder in the bank and has power to direct that the bank comply with the judge's sensible suggestion.
 

adrem

Well-known member
Joined
May 27, 2004
Messages
924
It would be interesting to get more detail on what the documents relate to. All we know is that they are in relation to legal advice the bank was getting. Remember the judge has confirmed that they are correct in their view that they are priviledged documents. That indicates that they are correspondence between lawyers and the bank. Could be interesting to see what the lawyers were advising them to do !!
 
B

birthday

Might such actions explain Fitzpatrick's cockyness?

Independent June 3rd 2010: My day will come: FitzPatrick - Disgraced banker relying on investigations to clear his name
It is of course possible that his various actions in Anglo and DDDA did not contravene the law-indeed I would not be surprised if this is the case.
However he must pay back all his loans-just like every one else.
There seems no reason why the majority of his very significant pension could not go in this direction. He could be left with say the value of the standard UA or OAP.
Of course he might not then be able to afford too many trips to the Ravenous Priest or wherever it is that he goes locally.
 

He3

Moderator
Joined
Oct 1, 2008
Messages
17,094
The opposition should grab onto this issue like a dog with a bone, and direct all the questions straight at Lenihan.

He is the sole shareholder in the bank and has power to direct that the bank comply with the judge's sensible suggestion.
...'to the ends of the earth' may not include Stephens Green ...
 

toughbutfair

Well-known member
Joined
May 28, 2009
Messages
9,775
Don't we own the bank?

I'm no lawyer but can't the taoiseach or M.O.F just say " I want to see......." or give these lawyers whatever they want?

If Anglo was a PLC they'd have the usual rights but they aren't.
 
Joined
Feb 21, 2003
Messages
4,265
Website
www.politics.ie
Twitter
davidcochrane
Fine Gael National Press Office
Press Statement by Charlie Flanagan TD
Spokesman for Justice

Thursday, 3rd June 2010

Flanagan challenges Min for Finance to intervene in attempted Anglo cover-up

FG expresses outrage at attempts by Anglo to hide documents via the courts

Fine Gael’s Justice Spokesman, Charlie Flanagan T.D., has today (Thursday) challenged the Minister for Finance to direct the Government appointed Public Interest Directors in the State owned Anglo Irish Bank to intervene to stop the banks attempts to keep documents hidden from public view.

“Attempts by Anglo to hide certain documents from the very public they are depending on for their continued existence, is nothing short of outrageous. The Director of Corporate Enforcement, Mr. Paul Appleby has specifically asked that Anglo not rely on legal professional privilege and yet they brazenly proceeding to do just that. I am challenging the Minister for Finance to intervene, through his Public Service Directors, to reverse this outlandish course of action which is a gross insult to the taxpayer.

“The taxpayer owns Anglo. They have a right to full transparency in relation to the detail of all transactions and the reasoning behind them. For Anglo to attempt to hide financial documents from public view through the courts, and for the Minister to stand by is almost beyond credulity.

“Anglo is an ever tightening noose around the neck of the taxpayer. This year alone €10.3 billion has been pumped into the bank. This is on top of the €4 billion already written off to keep alive a financial institution that represents all that was wrong in banking and for which we will be paying for generations to come.

“Anglo is making the Director of Corporate Enforcement’s job almost impossible with protracted wrangling over what documents are privileged and what documents can be subject to an investigation. It is high time that the Government intervened and ordered Anglo to cooperate fully with the investigation.

“Judge Kelly went on to say that the issue needs to be addressed ‘at the highest levels as a matter of urgency’. The Minister is the person who occupies the highest office on these issues and he needs to act to prevent any attempted cover up by Anglo.”
 

LDF

Well-known member
Joined
May 28, 2007
Messages
4,171
Yep. Lenihan and Cowen are responsible for funnelling billions of taxpayers money into Anglo. The least they could do is ensure their bank cooperates fully with all investigations into it. Fair play to the judge for showing some concern for taxpayers.
 

blackpitts

Well-known member
Joined
Feb 19, 2009
Messages
944
Gazing into my crystal ball Lenihan/Cowen/MoF response will be: "independent advice, commercial sensitivity, matter for the bank, best interests of the taxpayer, blah, blah blah."

Now, if only I could predict next week's lotto numbers as easily
 

corelli

Well-known member
Joined
Jun 13, 2007
Messages
4,478
Thats Peter Kelly never getting the Supreme Court during any future FF Government.
 

Libero

Well-known member
Joined
May 22, 2004
Messages
3,000
Charlie Flanagan TD said:
I am challenging the Minister for Finance to intervene, through his Public Service Directors, to reverse this outlandish course of action which is a gross insult to the taxpayer.
The sentiments are laudable, but does Charlie Flanagan know how nationalised Anglo works?

The Minister has open to him a far more effective course of action than making polite requests of the couple of public interest directors, who are but a small minority on the Board. Under Section 3 of the Anglo Irish Bank Corporation Act 2009, the Minister can do this:
The Minister may give a direction in writing to Anglo Irish Bank requiring it to do or refrain from doing anything the doing or refraining from doing of which is, in the opinion of the Minister, necessary or expedient in the public interest, subject to regulatory requirements.

Anglo Irish Bank Corporation Act 2009, Section 3

I don't want to drag the thread off-topic, didn't Flanagan know this? He's the Fine Gael Justice Spokesman.
 

toughbutfair

Well-known member
Joined
May 28, 2009
Messages
9,775
Gazing into my crystal ball Lenihan/Cowen/MoF response will be: "independent advice, commercial sensitivity, matter for the bank, best interests of the taxpayer, blah, blah blah."

Now, if only I could predict next week's lotto numbers as easily
That legal advice stuff drives me mad. Is it available under freedom of information or anything like that to ensure he is not telling a lie?
 

ManfredJudge

Well-known member
Joined
Mar 11, 2010
Messages
3,539
Anglo refusing to release records to Corporate Enforcer: Judge says think again

In one episode of Spongebob Squarepants Spongebob went missing.
"Nil se i mo theach" said one character "Feach aris" said Sandy
"Nil se i mo smaoineadh" said Squidward "Smaoineadh aris"

Nice to see that at least one of our judiciary has learned from this highly valuable programme.
 

cry freedom

Well-known member
Joined
Nov 8, 2009
Messages
2,400
...'to the ends of the earth' may not include Stephens Green ...
I think that in this context it is on the same astral plain as,"Up every tree in north Co. Dublin"
 

New Threads

Popular Threads

Most Replies

Top