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Firm in Quinn case seeks India ruling

A COMPANY which says it bought property in India, allegedly controlled by bankrupt billionaire Sean Quinn and members of his family, wants the Commercial Court to rule that proceedings over the matter should be heard in India.

Dubai-based Mecon FZE was given permission to give notice of its intention to apply to be taken out of proceedings.

The proceedings were brought by the Irish Bank Resolution Corporation against Quinn family members and several companies, including Mecon, over assets which the bank says are part of the Quinn international property group.

Mecon was one of several international companies over which freezing orders had been obtained as part of IBRC's efforts to recover assets linked to the Quinns.

Irish Independent