Quinn family wins preliminary battle against Anglo
THE FAMILY of bankrupt businessman Sean Quinn has won the preliminary battle in its High Court case against Anglo Irish Bank, now IBRC.
Sean Quinn and his family are fighting demands to pay over €2bn back to the now nationalised bank.
But the commercial division of the High Court has ruled that Mr Quinn and his family can rely on company law at a full hearing to argue the loans are unenforceable because of Anglo’s alleged stock market manipulation to boost the share price of the bank.
“The family welcome the opportunity to present their case to the High Court in the fullest possible way,” they said in a statement.
“The outcome of today will permit us to do so.”