With Sean Quinn jnr in jail, and Peter Darragh Quinn ‘on the run’, there’s been another development in the long-running battle between the Quinn family and the former Anglo Irish Bank, now state-owned Irish Bank Resolution Corporation [IBRC], over the €2.8billion the IBRC is owed. From the Irish Times report
Mr Justice Peter Kelly said he has presided over the Commercial Court since 2004 and regrettably was having to deal more often with cases involving “national and international fraud, sharp practice, chicanery and dishonesty”. However, he had never seen anything like the conduct in this case.
He made the remarks when granting an application by Irish Bank Resolution Corporation, formerly Anglo, for appointment of Declan Taite as receiver over the worldwide assets of various Quinn family members and over various foreign companies allegedly involved in the asset stripping scheme and based in Belize, Panama, Russia and United Arab Emirates. The Quinns consented to those orders.
The judge also granted IBRC interlocutory orders (orders continuing pending the outcome of full legal proceedings) freezing the accounts of various Quinn family members below €50m. The Quinns also consented to those orders and filed no replying affidavits.
The judge said, on the uncontradicted evidence before him, it seemed the Quinns had deliberately created and operated a scheme of mesmeric complexity, reeking of dishonesty and sharp practice, for the two-fold objective of putting assets beyond the bank’s reach and to feather [their] own nests. [added emphasis]
While a court could not make a final or binding decision on an interlocutory application, it had to be said all the evidence “points in one direction” in this case.
He had no hesitation continuing the orders freezing the accounts or taking the more unusual step of appointing receivers over the Quinns’ worldwide assets and accounts, he said.
The orders apply to Seán Quinn’s five adult children, nephew Peter Darragh Quinn, two sons in law Stephen Kelly and Niall Mc Partland, a number of foreign companies and any other party aware of the making of the orders.
How long before Sinn Féin, and the MP for Fermanagh and South Tyrone, Michelle Gildernew, drop their support for Sean Quinn, et al…