notes of the annual report. Mainland Ventures As of November 2009, twenty-one major, Irish investors are suing Anglo and its Delaware subsidiary, Mainland Ventures Corporation, for US$23 million due to "fraudulent and/or reckless concealment" perpetrated in regards to a hotel investment fund. The outcome is pending. EMPG loans On 13 January 2009, opposition party TD George Lee highlighted the potential exposure of the Irish taxpayer to the failure of Education Media and Publishing Group, the holding company of Houghton Mifflin Harcourt, given loans by Anglo Irish Bank to investors in EMPG. George Lee, TD for Dublin South, told journalists that EMPG, the parent company for US publisher Houghton Mifflin Harcourt, has failed with equity investors likely to be wiped out. The Irish taxpayer was exposed since Anglo Irish Bank had loans outstanding to the shareholders of EMPG. George Lee commented: Interviewed on Irish State broadcaster, RTÉ, Barry O'Callaghan, Chairman of EMPG and CEO of Houghton Mifflin Harcourt, confirmed that Irish investors as well as he himself were facing huge losses. He stated that "no-one has lost more than me". According to the Irish Times, investors of Davy Stockbrokers had US$475 million of equity in EMPG. The article did not identify how much or any of this investment was backed by Anglo Irish Bank loans. According to the Irish Independent, Barry O'Callaghan is a large personal customer of Anglo Irish Bank. The Irish Independent article noted that former Anglo Irish Bank Chairman, Sean FitzPatrick is one of the Davy clients that had invested in EMPG. Based on an analysis of the Irish Independent's "2008 Rich List" and The Sunday Times''' "2009 Rich List", Barry O'Callaghan's personal debts in March 2008 were circa US$400 million. On 15 January 2010, O'Callaghan admitted to having multimillion loans from Anglo Irish Bank and other international banks. Refusing to confirm the level of his indebtedness, O'Callaghan claimed to still be solvent and stated that he expects to honour all his obligations. In contrast to the statement of George Lee that Irish taxpayers were exposed, an Anglo Irish Bank spokesperson was reported by the Irish Times'' to have stated that it did not have a "big exposure" to EMPG. However, the spokesperson did not comment on whether it had exposure to individuals who had exposure to EMPG. Loans to Sean Quinn & the Quinn Group On 30 March 2010, following an application by Ireland's Financial Regulator, the