Business Irish

Monday 5 December 2016

Affidavits pour in as Quinn-Anglo battle looms

Published 15/07/2011 | 05:00

LAWYERS from across the world have filed affidavits with Dublin's High Court as the Quinn family and Anglo Irish Bank prepare for round one of a €500m international property battle on Monday.

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Court filings confirm that the Quinns have submitted affidavits from lawyers in Athens, Sweden and Russia, as well as from Sean Quinn's daughter Aoife and nephew Peter Quinn.

The Quinns and Anglo are battling for control of the family's €500m international property empire.

Anglo wants the case heard here, but the Quinns' representative last week filed a petition questioning the jurisdiction of the High Court, given the international nature of the dispute.

The jurisdiction issue is expected to be aired at Monday's hearing.

The bank wants to prevent the Quinns from removing any assets or cash from the property empire, so all funds can be used towards paying off the family's €2.9bn debt to the nationalised lender.

The Quinns want to prevent Anglo from interfering with the property companies and may claim that the bank's security over the original €2.9bn loans does not entitle it to full control of the properties.

Anglo is still mulling other potential actions against Sean Quinn, including attempting to make him bankrupt for failing to pay the €2.9bn debt.

Irish Independent

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