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Sunday 20 April 2014

IBRC granted judgment orders against fugitive Quinn

Peter Darragh Quinn

THE dissolved Irish Bank Resolution Corporation (IBRC) has been granted court judgments against the fugitive nephew of bankrupt businessman Sean Quinn in its action to prevent the stripping of assets from the Quinn family's International Property Group (IPG).

Peter Darragh Quinn has not been involved in the action since June when the High Court ruled that he, his uncle Sean and cousin Sean Quinn Jnr, were in contempt of court orders restraining stripping of assets.

Damages against Mr Quinn will, subject to the consent of the Director of Public Prosecutions, be assessed at a hearing on April 18. It is not yet clear how effective any enforcement order would be – or what assets the IBRC might try to pursue.

Contempt

Following the contempt finding against him, a warrant was issued for the arrest of Mr Quinn to serve a three-month jail term. That warrant has yet to be executed as he remains at his home across the Border in Co Fermanagh.

At the Commercial Court yesterday, Mr Justice Peter Kelly granted an application by Brian Murray SC, for IBRC, in special liquidation, for judgment orders against Mr Quinn and against a number of overseas companies.

The sum of damages to be paid by Mr Quinn, and those companies, will be assessed later.

Prior to that, the DPP will be asked if a damages assessment can proceed in the context of the fact that the full hearing of the bank's case, and the Quinn family's case against the bank, have been "parked" pending the outcome of criminal proceedings against former Anglo chairman Sean FitzPatrick and two former senior executives of the bank – Pat Whelan and Willie McAteer.

Irish Independent

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