AIB, Anglo Irish Bank and Irish Life & Permanent are set to disclose multi-million euro payoffs to former senior executives.
The three banks parted with their top executives in late 2008 and early 2009 but details of the payoffs will only become available this month and in early April. The payments will embarrass the government, which was forced to prop up the banks.
AIB, which last week reported a €2.3bn loss for 2009, will disclose the payoff to former chief executive Eugene Sheehy, former finance director John O'Donnell and Donal Forde, former head of its Irish division. It is speculated that they got a year's salary. Sheehy was paid €1.1m in 2008.
Irish Life & Permanent will reveal the payoff to former CEO Denis Casey and finance director Peter FitzPatrick. They resigned after it emerged that Irish Life had helped Anglo shore up its balance sheet by switching deposits with it. Casey was paid €942,000 in 2008 and FitzPatrick €988,000.
Anglo Irish parted company with CEO David Drumm in December 2008, a day after Sean FitzPatrick's exit when details of his personal loans emerged. It is not known at if Drumm received a payoff. He is currently involved in legal action with the bank. Anglo's finance director Willie McAteer left in early 2009. The bank's annual report, due before the end of the month, will also disclose how much FitzPatrick still owes the bank.
What a joke - on us - be a highly paid banker or politician - make a total mess of everything and walk away with a fortune - and yet we take it all lying down - or maybe not
Poor old Paddy still getting screwed I see. Will anyone do anything to bring yere masters in the 10000 euro suits to justice?? NO. Did ye all vote yes for lisbon? YES. And what did ye get in return? ha ha ha haaaa nothing only the usual kick up the hole. Poor thick old Paddy will watch the MASTERS of the bog head off again next week with bowls of old shamrock weed to every corner of the earth. All fly first class,$3000 a night rooms $50 a mile limos and dont forget the hairdos and fake tans, ect. And when they come back empty handed as they always do, they will claim they were working hard on behalf of the gullable gobshi/e reading this right now. FitzPatrick and several others like him are thumbing their noses up at ye the eejit taxpayers. Tell me PADDY why is no one in prison doing 25 to life for fraud, theft ect??? Why are ye so afraid,??? Why are ye giving N.A.M.A all yere great great grandchildrens money. Have ye any fecking pride left at all over there. I see the truth of the matter is that ye are all cowards, three foot nothings is all ye are, each and everyone of ye. Its out to the ports of exit ye should be standing in front of planes that are full of T.Ds leaving to waste millions more of yere worthless EUROS. Gee Chicago is beautiful today, cool blue skys full sun and that lovely warm feeling of freedom. YEA baby even my little puppy loves his freedom . Go OBAMA, THE MAN IS LIVING PROOF OF WHAT A GREAT FREE COUNTRY the USA IS. Well enjoy the life sentence yere so called betters handed down to ye and yere desendants in yere imprisoned little island. Turn out the old lights there will you Seani Fitzs, ah sur their all blind, you might as well leave them on. Go on ye cowardly boyos stick yere thick heads in the sand. BANKERS AND GANGSTERS BILLIONS AND BILLIONS poor thick old paddy nothing not a brown copper boy Thank GOD for the freedom he gave me and my little puppy. The little fellow is on first name with nearly everyone we meet already. TURN OUT THE LIGHTS last one out. God bless America,,,,, real freedom
Rewards for failure- fraud going unpunished- a banking inquiry behind closed doors- zombie banks with the worst balance sheets in EUROPE- The story is now beyond a joke.
NAMA is like that suitcase in dumb and dumber- full of IOUs- pieces of paper like
the glass bottle site- The future has been sold...
I was never too fond of the words WASTERS and LOSERS but there really is no other words to describe all you pixies!
Good to hear ya antony man..your comments are the only ones worth reading amongst all the other mush of denial and self-pity and general STUPIDITY!
Antony,
You do not understand. Voting Yes to a treaty without reading it was the height of sophistication. Even the celebrities were doing it.
And if you voted No, there there was something wrong with you. You just did not fit in. You were like a sceptic at a housing auction in 2006....
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The whole corpporate structure in Ireland is a disgrace. Directors are supposed to act on behalf of shareholders and in shareholders interests but the cosy arrangements and old boy networks operate to ensure only the select few operate on so many boards,and of course they write their own salary and bonus scales. The greed and self importance of these people is only to be equalled amongst our politicians, we are a nation of fools to have put up with it for so long. Its time we called STOP.