FitzPatrick declared bankrupt at his own request - The Irish Times - Tue, Jul 13, 2010

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FitzPatrick declared bankrupt at his own request - The Irish Times - Tue, Jul 13, 2010: "FORMER ANGLO Irish Bank chairman Seán FitzPatrick was adjudicated a bankrupt by the High Court yesterday at his own request just days after opposition from Anglo Irish Bank ensured the collapse of his proposed settlement deal with creditors.
The official assignee in bankruptcy, Chris Lehane, will now deal with Mr FitzPatrick’s creditors, who are owed some €150 million. His assets are estimated to be worth some €50 million, including investments of some €45.7 million, and some €1.23 million in accounts in various financial institutions.
He is joint owner of six properties, including his family home and another house in Greystones, Co Wicklow; a house in Bray, Co Wicklow, and apartments in Marbella, Spain; at Smithfield Market, Dublin and Killiney Court, Killiney. Only the Marbella apartment is not subject to a mortgage.
A proof of debt process by the official assignee, not yet complete, has estimated the level of Mr FitzPatrick’s unsecured creditors at €70,292,885. He is also appealing some €2 million in tax liabilities."