independent

Wednesday 16 April 2014

Quinns try to stop IBRC questioning each sibling

MEMBERS of the Quinn family are resisting attempts to be cross-examined about their accounts and assets in their ongoing legal case with the former Anglo Irish Bank.

Martin Hayden, for the Quinns, yesterday urged Mr Justice Peter Kelly to refuse the application before the Commercial Court.

Irish Bank Resolution Corporation (IBRC), formerly Anglo, wants orders permitting cross-examination of the five Quinn children – Aoife, Brenda, Ciara, Colette and Sean Jnr.

It also wants three of their spouses cross-examined about accounts and assets – Stephen Kelly, Niall McPartland and Karen Woods.

Shane Murphy, for IBRC, argued this was a focused application and all of the defendants had a case to answer as the bank alleged they were all part of a conspiracy to strip assets.

Mr Justice Kelly said he hoped to give judgment next week.

Mr Hayden said his side was appealing to the Supreme Court against separate orders by the judge requiring the Quinns to provide details of their tax and financial affairs back to 2009.

This also involves providing laptops, mobile phones and other devices, to a receiver appointed by the bank over their personal assets. That matter comes before the Supreme Court next Friday.

IBRC alleges that the Quinn family members have failed to adequately disclose details about control of companies in the Quinn international property group (IPG). It also alleges that there are offshore or other companies to which assets are transferred.

It also believes some assets and bank accounts have not been disclosed, and it wants documents relating to salaries the defendant obtained from companies in the international property group.

The Quinns have strongly opposed the application. Mr Hayden said they had complied with orders requiring them to disclose their assets and account. He said the bank, having been told of payments received by some of his clients, now wanted to know where that money had gone to even though that was not covered by the orders.

Disclosed

The Quinns say they have disclosed all documents available to them concerning their assets, including considerable documents provided this week.

They have also denied controlling companies in the IPG or knowing the whereabouts of rental incomes from those companies, Mr Hayden said.

The issue of the whereabouts of rent from the Russian company owner of the most valuable asset in the IPG, the Kutuzoff Tower in Moscow, was subject to litigation in Moscow, he added.

All of the defendants, except Brenda Quinn, had said they had bank accounts with Ocean Bank in Moscow but they could not provide bank statements as that bank operated via text messages which they had disclosed.

The bank did not accept there was full disclosure of accounts and assets.

Irish Independent

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