Wednesday 26 October 2016

Quinn's High Court battle delayed as Sean Junior and wife Karen have second son

Tim Healy

Published 20/05/2015 | 17:52

Sean Quinn Jnr and his wife Karen
Sean Quinn Jnr and his wife Karen

Sean Quinn junior and his wife Karen have had another baby boy.

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The High Court was told the birth of a baby boy earlier today may delay the scheduled opening next month of the family's action aimed at avoiding liability for €2.34bn loans.

Due to the birth of the child, their second boy, there has been a short delay in the family deciding whether to bring an appeal in relation to a certain aspect of their case, the judge hears.

The couple's first son was born in April 2014 and was named him Sean.

Read more: Sean Quinn Jnr and wife Karen Woods have a new baby boy – and they've named him Sean

The birth of the baby was disclosed at a hearing to make final directions for the loans liability case brought by Mrs Patricia Quinn and her five adult children, which is listed to open on June 3.

The court had adjourned briefly to allow the sides take instructions relating to a possible appeal by the Quinns against Mr Justice Robert Haughton’s decision last week refusing to allow them amend their claim to state they were innocent parties to the disputed transactions.

When the court resumed, the judge was told by Bernard Dunleavy SC, for the Quinns, a "most unusual situation" had arisen.

Sean Quinn Jnr and Karen Woods on their wedding day in 2012
Sean Quinn Jnr and Karen Woods on their wedding day in 2012
Karen Woods

Sean Junior's wife Karen had just given birth to a child, Mr Quinn was in the labour ward and lawyers were unable to get instructions from him, he said.

The judge granted counsel's request to adjourn the matter to tomorrow.

The judge was dealing with final directions for the hearing of the family's case, expected to last more than six months.

Initiated in May 2011, the legal costs of the case are already estimated at several million Euro with the final bill expected to be multiples of that.

The case is against Irish Bank Resolution Corporation (IBRC) and its special liquidator Kieran Wallace. 

The Quinns dispute the validity of share pledges and guarantees provided as security for loans made by the former Anglo Irish Bank to Quinn companies.

Those loans, the Quinns claim, were made for the unlawful purpose of propping up the bank’s plummeting share price.

The defendants previously joined Sean Quinn senior and two former senior executives of the Quinn group, Liam McCaffrey and Dara O’Reilly, as third parties.

The bank claims the third parties at all times acted as agents of the Quinns concerning the execution of share pledges and guarantees. The Quinns deny those claims.

Last week, the judge refused to permit the Quinns amend their claim to include a claim they were “innocent parties” to the disputed transactions. That amendment was sought after the Supreme Court ruled last March that loans, even if made for unlawful purposes, remain enforceable.

Yesterday, Paul Gallagher SC, for IBRC, said it wanted to have certain sections of the Quinns’ claim and parts of some witness statements deleted in light of the Supreme Court ruling.

Mr Dunleavy SC, for the Quinns,  opposed that application but indicated the Quinns may not appeal the court’s ruling refusing permission to amend their claim if the bank did not pursue its application to have certain evidence declared inadmissible at this stage.

That matter, due to the birth of the baby boy, was adjourned to allow both sides get full instructions on how to proceed.

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