Deal was not 'logical', admits Quinn nephew
A €19m property in Russia was sold by a Sean Quinn family company to another company for about €2,500 in a transaction allegedly "orchestrated" by a son-in-law of the bankrupt businessman, the High Court was told yesterday.
Paul Gallagher SC, for the former Anglo Irish Bank, suggested to Peter Darragh Quinn, a nephew of Mr Quinn, that the sale of the property was orchestrated by Stephen Kelly, husband of Aoife Quinn, a daughter of Mr Sean Quinn senior, and would only be logical if the purchasing company was connected to the Quinn family.
Peter Quinn said he was not involved in the matter and added perhaps there was no logical or commercial sense involved.
Mr Quinn also said, because of the way Anglo had acted towards the Quinn family, they had tried to provide as little information as possible to it about matters related to their International Property Group (IPG).
When the High Court made orders in June and July 2011 restraining the family dissipating assets of the IPG, he did not understand those orders to require the family to provide the bank with information about previous steps taken by them to place assets out of the reach of the bank, he said.
The cross-examination of Mr Quinn, acting general manager of international property assets held by the Quinn Group from 2009, concluded yesterday in the hearing before Ms Justice Elizabeth Dunne of the bank's application for orders for attachment and, if necessary, committal against him, Sean Quinn Snr and Sean Quinn Junior for alleged contempt.