As the BBC reports, in the latest instalment of the continuing complicated legal battle between Sean Quinn and the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank, Belfast High Court has ruled that Mr Quinn is not entitled to declare himself bankrupt in the UK. He can, however, apply for bankruptcy in Ireland. From the BBC report
At the High Court on Tuesday Mr Justice Deeney found in favour of the bank, annulling the bankruptcy.
He found that a lease for an office in Derrylin, County Fermanagh, had been drawn up to “bolster” Mr Quinn’s claim and that his centre of interests prior to bankruptcy was in fact in the Republic of Ireland between his home in County Cavan, offices in Belturbet and advisors offices in Dublin.
The judge described the Derrylin lease as “a somewhat curious document”.
Justice Deeny added: “I conclude, on the balance of probabilities, that this lease has been prepared at some much later date to try and bolster the case now being made.”
He commented that Mr Quinn had failed to disclose the fact that he held an Irish passport and no UK passport, that he was a voter in the Republic of Ireland and that, despite being a UK taxpayer, 20% of his taxes were paid to the authorities in the Republic.
The New York Times had a recent long article on “The Fall of Ireland’s Mighty Quinn“.
Adds There’s a summary of the court judgement, and the full judgement is available here.
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