Sean Quinn could face 12 year business ban in Republic
Sean Quinn’s bankruptcy declaration has been rejected by the High Court in Belfast following a challenge by the Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank.
The court ruled that the former billionaire, who founded Quinn Insurance, was not entitled to declare himself bankrupt in Northern Ireland as he was based in the Republic of Ireland.
In a case brought by the bank, 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 interest prior to bankruptcy was, in fact, in the Republic of Ireland
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