Belfast Telegraph

Dealings led to loan book of €1.5bn in Belfast

Northern Ireland was not immune to the Anglo Irish whirlwind.

The bank lent millions to Northern Ireland developers like Michael Taggart, Peter Curistan, Peter Dolan and, most infamously, Sean Quinn, once the richest person in Ireland.

By 2006, it had a loan book of €1.5bn in Belfast.

For many developers, helicopters and private jets were the order of the day, though many saw their helicopters later repossessed by administrators appointed by Anglo and other lenders.

The former head of Anglo in Belfast, Neil Adair, left the bank to form a property company, PBN, with business partners Patrick Kearney and Brendan McConville.

Mr Kearney later emerged as one of the Maple Ten or 'golden circle' – one of 10 borrowers who bought 10% of Anglo Irish with the bank's own cash.

That action was taken because the share price collapsed after Sean Quinn built up a 25% stake through contracts for difference.

Belfast Telegraph

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