the “artificiality” of the case is underlined by an attempt to paint the five adult plaintiffs as having no business experience, an inability to get independent advice and as living on modest salaries.The children appear to be saying they should have got “enormous” borrowings without giving securities they had previously given countless times, he said.
The children are claiming they were acting under the influence of their father but had not joined him as a party and he would not be involved in this case. Huge sums, about €1.65 billion, were extracted from the core group for the children’s benefit and in relation to Contracts for Difference positions held in Anglo and substantial property acquisitions, he said.
When the children initiated their case in 2011, they took the “extraordinary” step of not seeking certain injunctions regarding the share receiver, he also said.IBRC is now aware they did not do so because they had concentrated their attention and resources in a “most sophisticated and devious fraud” in taking assets from their international property group which were meant to go towards repaying the Anglo loans, he said.
And yet there are fools who support this rotten lot
I wish i had had access to that personal bank fund
🙊 oops. Bit of corporate governance training in order?