Saturday, 6 November 2010

Ex-building society chief takes refuge in Spanish bolt hole - National News, Frontpage - Independent.ie

Ex-building society chief takes refuge in Spanish bolt hole - National News, Frontpage - Independent.ie: "FORMER building society boss Michael Fingleton has taken refuge from the banking crisis in a luxury Spanish apartment that his creditors cannot touch.
The former Irish Nationwide chief executive, being pursued by Ulster Bank over €13.6m in unpaid loans, has the use of two plush apartments overlooking a golf course in upmarket Marbella, the Irish Independent has learned.
However, the apartments cannot be seized by the bank as they are registered in the name of Mr Fingleton's wife, Eileen, and another relative.
The apartments were bought for a combined total of €1.2m in 2005, Spanish property records reveal.
They are located in the Hotel del Golf complex alongside the exclusive Las Brisas golf club, which boasts actor Sean Connery as a member.
Until recently the golf club was also frequented by disgraced former Anglo Irish Bank chairman Sean FitzPatrick.
The now bankrupt Mr FitzPatrick co-owns an apartment in the San Pedro area, 3km from the golf club."

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