independent

Saturday 19 April 2014

Ciara Quinn says she withdrew €339,000 for legal fees from bank ATM over 11 months

24/1/2013L-R: Colette and Ciara Quinn, daughters of Sean Quinn - leaving court yesterday(Thurs) after the opening day of a High Court hearing.Pic: Collins Courts

A DAUGHTER of bankrupt tycoon Sean Quinn withdrew more than €30,000 every month from a cash machine over nearly a year to pay for legal fees, she told a court.





Ciara Quinn said she had no records or receipts of the fees being paid, as she generally handed the cash to her brother Sean Junior or sister Aoife, who then paid the lawyers.



Ms Quinn told the Commercial Court she spent €339,921 - paid to her from the Quinn family's property empire - between July 2011 and May 2012.



She said she usually withdrew the money, over the 11-month period, from a Bank of Ireland ATM in Blanchardstown, Dublin, using a Visa card.



Judge Peter Kelly pointed out the withdrawals were the equivalent to nearly €1,000 a day, and asked if there was no cash withdrawal limit at the ATM. Ms Quinn said: "No, I don't think so."



Ms Quinn is the second of five of Sean Quinn's children and three of their spouses to be cross-examined by lawyers for the Irish Bank Resolution Corporation (IBRC) about whether they fully disclosed information on assets and accounts in their names after freezing orders were imposed by the court last July.



Shane Murphy, barrister for IBRC - the former Anglo Irish Bank - said it was "highly implausible" that Ms Quinn had no documentation or receipts about the money that was handed over.



Ms Quinn, a qualified nurse who was a claims handler for Quinn Insurance for nine years, said the money was paid to Eversheds legal firm and maybe some other lawyers.



She told the hearing she believed she was a 20% shareholder of all of the Quinn family companies.



But she said she had no documentation about her legal ownership of a fifth of the group.



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