Ex-Anglo executive ‘surprised’ by decision to report him to Garda

Lawyers acting for former Anglo Irish Bank executive Tom Browne have written to the Oireachtas banking inquiry in relation to its decision to report him to An Garda Síochána for failing to comply with a direction.

It is understood Mr Browne failed to submit an opening statement to the inquiry by the deadline required in advance of an appearance at a hearing on July 24th.

It is the first time the inquiry has involved the Garda in its activities.

Mr Browne is abroad on a family holiday and was said to be very surprised to learn the committee had taken this course of action against him.

The former Anglo executive is believed to have written to the inquiry last week to say he was seeking legal advice in relation to his appearance due to pending legal proceedings involving himself and the bank.

Suing

The Irish Bank Resolution Corporation, the successor entity to Anglo, is suing Mr Browne in relation to more than €50 million of loans given to him by the bank prior to its nationalisation in January 2009.

The civil action was due to be heard in October 2012 but was adjourned by the judge due to a potential overlap with criminal proceedings involving Anglo’s former chairman Seán FitzPatrick and another former Anglo executive, Pat Whelan.

The Director of Public Prosecutions told the Commercial Court at the time it was concerned the civil case could jeopardise these criminal proceedings.

Mr Browne is being represented by Donal Spring of Daniel Spring & Co, a leading Dublin-based law firm.

The firm told The Irish Times Mr Browne was surprised by the decision of the committee to involve the Garda, given that the DPP had sought an adjournment of the legal case in 2012.

Mr Browne is currently managing director of LeBruin Private, a corporate advisory group in Dublin.

The law firm confirmed that a letter was being sent yesterday to the committee on Mr Browne’s behalf but declined to discuss its contents.

In a statement on Tuesday, the committee said section 75 of the Houses of the Oireachtas (Inquiries, Privileges & Procedures) Act provided that failure to comply with a direction may amount to a criminal offence.

It “noted the failure” of Mr Browne to comply with its direction and agreed to report this to the Garda.