01/Sep/2014 - Last News Update: 21:00

Quinn asset evidence "incredible", court told

Category: Northern Ireland

Published: 10th May 2012 18:31:45

The Irish Bank Resolution Corporation says the evidence of Sean Quinn, his son Sean, and nephew Peter, denying that they had breached court orders in relation to international assets, is "incredible" and "fantastic".

The former Anglo Irish Bank, claims the three men are in contempt of court because they continued to take steps to put assets in Russia and Ukraine out of the reach of the bank.

It says this was in spite of court orders preventing them from doing so.

Senior Counsel for the bank, Shane Murphy, told Ms Justice Elizabeth Dunne, in the court in Dublin, that on an assessment of the evidence, she would be satisfied beyond reasonable doubt that the Quinns breached the court orders made in June and July last year.

Mr Murphy said the evidence showed there was a plan authorised by Sean Quinn senior to put assets out of the reach of the bank, that it was developed by his nephew, Peter Quinn, and that Sean Quinn junior was aware of the plan.

The bank said the judge was being asked to accept that no one was in overall charge of this plan. The bank claims Sean Quinn senior was in charge.

He was the "patriarch", the "master and commander", Mr Murphy said.

He said the judge should take into account his anger and animus towards the bank.

Mr Murphy said there was false, misleading and evasive testimony from all three men.

Mr Murphy said the plan to put assets out of reach of the bank was executed with determination and resilience and with assistance in many jurisdictions.

He said it continued beyond the dates of the injunctions.

The Quinns claim any steps they took in relation to putting the assets beyond the reach of the bank were taken before the injunctions were granted.

They say they don't know anything about steps taken afterwards.

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BBC News, 2012. Quinn asset evidence "incredible", court told [Online] (Updated 10th May 2012)
Available at: http://www.ukwirednews.com/news/1427777/Quinn-asset-evidence-incredible-court-told [Accessed 1st Sep 2014]

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