State-owned bank has pursued tycoon across two jurisdictions
Published 11/01/2012 | 05:00
April 14, 2011
A share receiver is appointed over the Quinn Group by Anglo Irish Bank -- ousting Sean Quinn from his business empire.
November 11, 2011
Mr Quinn is declared bankrupt in Belfast, just days after the Irish Bank Resolution Corporation (IBRC) -- formerly Anglo Irish Bank -- had issued a massive debt summons for more than €2bn in the Commercial Court in Dublin. The bank issues legal proceedings against both Mr Quinn and his wife Patricia in relation to their personal guarantees.
November 17, 2011
IBRC lodges an application to annul the Belfast bankruptcy order.
November 23, 2011
Mr Justice Peter Kelly of the Commercial Court in Dublin orders Mr Quinn to repay €416m to the IBRC. Five days later, he orders Mr Quinn to repay €1.74bn to the IBRC, bringing overall debts to €2.16bn.
December 16, 2011
The IBRC takes a pre-emptive move, obtaining a bankruptcy summons from the High Court in Dublin.
This will allow the bank to proceed immediately with bankruptcy proceedings against Mr Quinn in Dublin if it wins its case in Belfast.
Mr Justice Kelly in Dublin orders that Mr Quinn's wife Patricia must repay a €3m bank loan, despite her claim that she had not known she had signed up for it.
December 19-20, 2011
Mr Justice Donnell Deeny in Belfast hears the IBRC's challenge to Mr Quinn's bankruptcy.
January 10, 2012
Mr Justice Deeny rules against Mr Quinn and rejects his claims that his centre of main interests (COMI) was located in Northern Ireland.
Hours after the Belfast ruling, the IBRC secures a High Court order to fast track the Dublin bankruptcy proceedings -- these are being challenged by Mr Quinn.
January 16, 2012
The Dublin High Court is expected to hear the IBRC's bankruptcy petition and Mr Quinn's challenge to it.