Arab Today, arab today trial opens over bank \which nearly broke ireland\
Last Updated : GMT 22:26:35
Arab Today, arab today
Arab Today, arab today

Trial opens over bank \'which nearly broke Ireland\'

Arab Today, arab today

Arab Today, arab today Trial opens over bank \'which nearly broke Ireland\'

Dublin - AFP

The trial of senior executives at the bank that almost broke Ireland opened in Dublin on Wednesday, beginning what is expected to be one of the longest trials in Irish legal history. The former chairman of Anglo Irish Bank, Sean FitzPatrick, 65, and two former executives, Patrick Whelan, 51, and William McAteer, 63, are charged with 16 counts each of providing unlawful financial assistance to individuals to buy shares in the bank. They have all pleaded not guilty. Each charge relates to a specific person who allegedly received financial assistance from the bank in July 2008 and includes the now-bankrupt former billionaire businessman, Sean Quinn, as well as his wife and children. Quinn, once Ireland's richest man, lost control of his empire after investing heavily in Anglo Irish Bank shares and later spent nine weeks in prison for contempt of court as Anglo Irish Bank attempted to get control of his assets. Fifteen jurors have been sworn in after a process began on Friday to select them for a trial that they have been told could last until the end of May. This is the first time 15 jurors have been used in a trial in Ireland after a law change last year to allow for lengthy trials such as this. Only 12 of the jurors will retire to consider the charges, with the extra jurors allowing for any fall-off if a juror gets sick or dies, without compromising the trial. Anglo, mostly a commercial and business lender, lent aggressively to property developers during Ireland’s booming Celtic Tiger years but was left terribly exposed when the Irish property market collapsed. In 2008, nearly 30 billion euros ($34 billion) of taxpayers' money had to be pumped into the bank to prevent it from going under. The following year, Dublin nationalised the bank when further cash was needed to prop up the failed lender. Last February, the bank, which was rebranded the Irish Bank Resolution Corporation, was liquidated, closing what Prime Minister Enda Kenny called "a sad and tragic chapter" in Irish economic history. Over 100 witnesses are expected to testify while around 24 million pages of evidence have been gathered, making it one of the most complex trials in Irish history. Whelan has also pleaded not guilty to seven additional charges of being privy to fraudulently altered loan facility letters sent to seven of the borrowers relating to the purchase of shares of Anglo.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today trial opens over bank \which nearly broke ireland\ Arab Today, arab today trial opens over bank \which nearly broke ireland\

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today trial opens over bank \which nearly broke ireland\ Arab Today, arab today trial opens over bank \which nearly broke ireland\

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday