independent

Wednesday 16 April 2014

High Court hears of new plan to appease IBRC and save home

AN alternative to Sean Quinn Junior selling his home in order to purge his contempt may be arranged.

The High Court has heard that an "alternative financial proposition" is being put to the IBRC in relation to the Dublin home owned by Mr Quinn, the only son of bankrupt former billionaire businessman Sean Quinn.

Last July, Mr Quinn, pictured right, was jailed for three months after he failed to comply with court orders to reverse steps to put international assets out of the reach of IBRC. He was released from Mountjoy Prison once his term expired. Last month, the matter was briefly mentioned before Ms Justice Elizabeth Dunne and the court heard that Mr Quinn was prepared to sell the home he jointly owns with his wife Karen Woods at Alder Lodge, Farmleigh Woods, Castleknock, Dublin 15, and lodge the proceeds of the sale into court.

However, Ms Justice Dunne has been told of the possible new arrangement.

The court heard that the position can be clarified through correspondence in advance of when the case comes before her again on February 15 next.

Irish Independent

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