Tuesday 12 December 2017

Quinn Jnr to sell home in bid to purge contempt

Sean Quinn Jr
Sean Quinn Jr

Tim Healy

SEAN Quinn Jnr is to sell his Dublin home in a bid to finally purge his contempt of court orders after a judge rejected his alternative offer of a US$75,000 (€56,500) payment.

Arrangements for the sale of the home shared by Mr Quinn and his wife Karen Woods at Alder Lodge, Castleknock, will now be made and the High Court will be updated on progress in October.

The property – described yesterday as Mr Quinn Jnr's only asset – is valued at about €400,000 and he is offering to pay to Irish Bank Resolution Corporation (IBRC) his half-share of the sale proceeds.

Ms Justice Elizabeth Dunne yesterday stressed she accepted Mr Quinn was making efforts to purge his contempt.

However, she considered his US$75,000 offer to be inadequate as the contempt ruling arose from her finding he participated in a US$500,000 (€380,000) payment to the general director of Quinn Properties Ukraine (QPU), Larissa Puga, on the eve of IBRC's takeover of QPU.

Last July, the judge jailed Mr Quinn for three months for contempt.

His father, bankrupt businessman Sean Quinn Snr, later served a nine-week prison term for contempt but a warrant remains unexecuted for the arrest of his cousin, Peter Darragh Quinn, to serve a three-month term because he remains at his home in Northern Ireland.

ANXIOUS

The contempt proceedings came before the judge several times since, during which Mr Quinn Jnr indicated he was anxious to purge his contempt.

When Martin Hayden, for Mr Quinn Jnr, asked would she consider the house sale proposal as a final purging of the contempt, the judge said she would address that after the sale.

Her aim was to secure the undoing of the wrong done via payment of a significant amount to replace what was taken as a result of the actions of Mr Quinn Jnr and others, she said.

She did not want to keep Mr Quinn Jnr before the court forever and, meaning it in the "nicest possible way", would be "delighted to see the back of him".

Mr Quinn Snr has indicated he will abide by whatever orders the court makes in the matter but had some concerns about proposals advanced by the bank. There was no appearance again yesterday by Peter Darragh Quinn.

Irish Independent

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