Bankrupt Seanie Gets to Keep His Prized Golf Clubs Because They Are 'Personal'

Article excerpt

Byline: Warren Swords

THEY are the most notorious golf clubs in the country, having led to the end of Brian Cowen's tenure as Taoiseach and the fall of the Government.

By rights, Sean FitzPatrick's clubs should be in a museum but, thanks to the quirks of Irish law, the bankrupt banker gets to keep his prized irons and woods despite having had all his assets seized.

While FitzPatrick's clapped out 19-year-old BMW was seized to help pay the tens of millions he owes, he can continue using his more valuable clubs on fairways across the country.

When he was declared bankrupt, FitzPatrick had to fill out a declaration of his assets and hand over control to an official bankruptcy assignee.

The only assets listed by the former Anglo chairman - apart from a number of bank accounts, properties and shares - were his 2008 Volkswagen Passat and the BMW.

Apart from their monetary value, the golf clubs are of political significance. It was the recent revelations that FitzPatrick had played a round with Taoiseach Brian Cowen in July 2008 - just months before the bank guarantee - that sparked the unrest among Fianna Fail backbenchers that ultimately led to Mr Cowen's resignation as party leader last week. …