Quinn family closer to avoiding liability for Anglo loans
Seán Quinn’s wife, Patricia, and their five children are one step closer to avoiding liability for loans worth up to €2.34bn (£2bn), the Irish Times has reported.
According to the newspaper, the Irish Commercial Court ruled yesterday that the family has a right to argue that up to €1.8bn of these loans were “unlawful”.
Mr Justice Charleton confirmed that they could advance these claims if they can prove the loans in question were made by the former Anglo Irish Bank, now Irish Bank Resolution Corporation (IBRC), to various Quinn companies for the purposes of supporting the bank’s share price.
This “wholesale” market manipulation would constitute a breach
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk