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Quinn told to pay €2bn to Anglo

BANKRUPT businessman Sean Quinn must pay more than €2bn to the former Anglo Irish Bank, the largest judgment order ever entered in the courts.

Irish Bank Resolution Corporation (formerly Anglo) was yesterday granted an application for judgment orders totalling about €1.7bn. This is in addition to the €417m judgment orders made against Mr Quinn last week.

The orders arose mainly from guarantees given by Mr Quinn over loans to various Quinn companies to acquire property here and in several countries overseas, including India and Russia.

Mr Quinn voluntarily filed for bankruptcy in Northern Ireland on November 11 last. Nine days earlier, IBRC had issued its proceedings here.

The bank has since brought proceedings in the North in a bid to have Mr Quinn's adjudication as a bankrupt annulled. IBRC contends that Mr Quinn is based in the Republic.