Quinn and ex-Anglo chiefs to be subpoenaed in IBRC case

FORMER ANGLO Irish Bank head of lending Tom Browne intends to subpoena bankrupt businessman Seán Quinn and two former senior executives in the Quinn group in defending the bank’s claim for judgment of €50 million against him, the Commercial Court heard yesterday.

Mr Browne will also subpoena former Anglo chairman Seán Fitzpatrick and other former or serving directors, non-executive directors and officials of the bank, including Patrick Whelan, Declan Quilligan, Michael O’Sullivan, Lar Bradshaw, Elma Kinane, Michael Jacob, Anne Heraty, Garry McCann, Natasha Mercer and Willie McAteer. While he had intended to subpoena former Anglo chief executive David Drumm, he has now decided not to, Mr Justice Peter Kelly was told by Michael O’Higgins SC, for Mr Browne.

They had been unable to make contact with Mr Drumm who was “not amenable to subpoena”.

The judge was yesterday given an outline of the nature of the evidence Mr Browne’s side intend to be covered by the witnesses they propose to subpoena, which he had earlier sought.

Lawyers for Mr Browne said they intended to call Seán Quinn snr and former Quinn group executive Liam McCaffrey to give evidence in relation to a meeting of September 11th, 2007, where Mr Quinn told Anglo about his contract for difference (CfD) positions within the bank and what happened subsequently.

They would also be asked about loans given to Mr Quinn, his family and the Quinn group and the information provided to the bank when seeking such loans.

Another senior Quinn group executive, Dara O’Reilly, would be asked about his communications with Anglo in September 2007 and thereafter in relation to requests on behalf of the Quinn family for funding to meet margin calls on the CfDs.

Various Anglo officials would be asked about dealings with the Quinns, including meetings at which the family shareholding in Anglo was discussed.

Mr McAteer and Mr Fitzpatrick would be asked about their knowledge of the family shareholding within Anglo, loans by the bank to support that shareholding and the extent of the Anglo board’s knowledge of those matters.

An expert on banking, John Phillips, had agreed to provide a statement that would illustrate the reliance by rival bank AIB on Mr Browne’s shares in Anglo as security for his borrowings with AIB, solicitors for Mr Browne stated.

Mr Browne’s solicitors also indicated they wished to subpoena Irish Times journalist Simon Carswell, author of Anglo Republic, as his book contained “copious references to information contained within the confidential records of the bank”.

While Mr Carswell had evinced unwillingness to reveal his sources of information within Anglo, it was intended to subpoena him to attend trial for the purpose of identifying evidence from witnesses which was contradictory of information or records which the bank or its officers had revealed to the journalist, Mr Browne’s solicitors stated.

Mr Justice Kelly said it was clear Mr Carswell’s information was inadmissible hearsay as it represented what he was told by others. Mr Carswell had made clear he would invoke journalistic privilege and decline to reveal his sources so there was no point in calling him, the judge observed.

The judge has adjourned to September further pre-trial management issues arising from the action by Irish Bank Resolution Corporation (formerly Anglo) against Mr Browne which is listed for hearing on October 16th.

Mr Browne, Ferney Hill, Brighton Road, Foxrock, Dublin, head of lending at Anglo between 2005 and 2007, claims he has no liability for his Anglo borrowings on grounds including that, at the time they were made, the bank was allegedly aware Mr Quinn’s stake in the bank was such as to undermine its stability and to render his shareholding valueless.