THE NATIONAL Asset Management Agency took control of loans to seven of the 10 customers who acquired a stake in the bank previously held by Seán Quinn using loans from the bank.

The transfer took place between May and November 2010.

The bank disclosed in court papers filed in the case taken against former Anglo executive Tom Browne that loans held by two of the Maple 10 investors remain with the bank, while a 10th customer repaid his share loan.

The bank, now known as Irish Bank Resolution Corporation, said in filings provided under court discovery that it had not demanded repayment on loans due from the two customers still on its books.

No legal proceedings have been issued against these two customers or against the seven other borrowers before their loans transferred to Nama, the bank said.

IBRC said the bank was managing its entire exposure to the two customers to “maximise” the recovery of the loans.

The customers’ identities were not disclosed. They acquired a 10 per cent stake in 2008 with loans of €451 million in a deal organised by Anglo to prevent a collapse in its share price from a reduction in the size of Mr Quinn’s stake.

IBRC said it had taken no other steps to recover the loans from seven of the customers before the transfer to Nama.

The first loans relating to two of the Maple 10 customers transferred on May 3rd and June 28th, followed by the loans of two more customers on August 9th and 16th, all in 2010. The remaining loans transferred that November 1st.

IBRC said it was not aware of the current position. The 10 investors – all Anglo customers with a heavy involvement in property – are Jerry Conlan, Patrick Kearney, Seamus Ross, Gerry Gannon, Joe O’Reilly, Brian O’Farrell, Paddy McKillen, Gerry Maguire, John McCabe and Seán Reilly.