Ardboyne was setting for 2007 FitzPatrick meeting with Quinn

Sean FitzPatrick, the controversial former chairman of Anglo Irish Bank, has revealed in a new book that he first learned of Sean Quinn's huge clandestine investment in the bank at a meeting in the Ardboyne Hotel, Navan. Mr FitzPatrick, accompanied the then chief executive David Drumm to a meeting with Mr Quinn and his associate, Liam McCaffrey, in Navan, where he was told of Sean Quinn's investment in the bank via contracts for difference (CFDs) on 11th September 2007. He said he was shocked when he learned of the extent of the Quinn holding. The four men met again on 25th March 2008 in Dublin as the share price of Anglo was continuing to fall, threatening the Quinn business empire and the bank. Sean Fitzpatrick said that Sean Quinn was close to tears at this stage. The share price had fell by 15 per cent on 17th March, and the board was concerned there might be a run on deposits. This prompted Fitzpatrick to contact the then finance minister, Brian Cowen, who was in Kuala Lumpur on a St Patrick's Day trip. This phone call and further contact between Fitzpatrick and now Taoiseach Cowen are the subject of scrutiny this week which led to Brian Cowen issuing a statement on Monday night, in which he rejected any suggestion of impropriety, accusing his opponents of drawing “malicious and unfounded†inferences from his contacts with the former banker. His coalition partner, Green Party leader John Gormley yesterday (Tuesday), criticised Mr Cowen for not disclosing details of his contacts with Mr FitzPatrick. The Green Party met in Malahide in Dublin yesterday to discuss the weekend revelations that Mr Cowen and Mr FitzPatrick had dinner and played golf just two months before the bank guarantee. Mr Gormley said the party had tried to establish whether there had been any impropriety involved, but had found no evidence of it. However, the Green Party leader said his party remains committed to passing the Finance Bill and would remain in Government until then.