Saturday 20 January 2018

Quinn's daughter-in-law expecting child, court hears

Bride Karen Woods and groom Sean Quinn Jr pictured on their wedding day
Bride Karen Woods and groom Sean Quinn Jr pictured on their wedding day
Karen Woods

THE glamorous daughter-in-law of bankrupt businessman Sean Quinn is pregnant with her first child.

Karen Woods is expecting a baby with her husband Sean Quinn Junior, a court was told, as members of the family applied for variations on freezing orders against assets.

Mr Quinn Jr wants to raise a €210,000 charge on his Dublin home so the money will be available next month when he is due to purge his contempt of court orders.

His sister Ciara and her husband also want variations to allow them make some €10,000 tax payments, including the property tax.

Various members of the family also want the court to exclude certain bank accounts, some shareholdings and their existing motor vehicles or any replacement vehicles, from terms of the freezing orders.

These orders were obtained by Irish Bank Resolution Corporation (IBRC) from June 2012, which restrain them reducing their assets below €50m.

The variations are required to allow the family set up direct debits and standing orders, meet tax payments, manage shareholdings in the cases of two of them and, when appropriate and if necessary, sell cars, Aoife Quinn said in an affidavit.

Ms Quinn said it was necessary to seek the variations now because it was expected it would be some time before the full hearing of the proceedings against them.

IBRC alleges a conspiracy to strip multi-million assets from companies in the family's international property group.

Ms Woods is seeking a variation to allow her to deal, if necessary, with shares valued at €102,500.

But she was not seeking to put any proceeds from sale of the shares beyond the control of receivers, Aoife Quinn said.

Ciara Quinn wanted to deal with a Ryanair shareholding on the same terms.

In her affidavit, Aoife Quinn said her brother and sister Brenda, unlike the other family members, have no bank accounts that are not controlled by the receivers and wanted to be permitted to operate such accounts.

Her brother and his wife were expecting their first baby next year and would need discharge expenses for that, plus tax payments of some €10,000, she said.

Brenda Quinn wants to be permitted to put an unidentified sum due to her from her former employers, Quinn Insurance, as compensation for loss of her employment, into a Bank of Ireland account in Cavan.

IBRC, which obtained the freezing orders from June 2012, said it wanted a short time to take instructions on Sean Quinn Junior's proposal concerning the €210,000 charge on his home in Alder Lodge, Farmleigh, Castleknock.

The High Court heard last month Mr Quinn Junior's half share in the house valued at €420,000, was offered to purge his contempt of court.

IBRC also wants similar time to deal with the application by his sister Ciara and her husband Niall McPartland for variation orders allowing them make income and residential property tax payments of some €10,000, plus a 5pc surcharge if necessary.

Tim Healy

Irish Independent

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