Menu
23/02/2012
Quinn Family Win Preliminary Ruling Against IBRC
The High Court in Dublin has ruled that the family of Fermanagh-born businessman Sean Quinn can continue with their legal battle.
Mr Quinn’s wife and five children are challenging the demands made by the Irish Bank Resolution Corporation (IBRC) to repay loans totalling €2.3 billion.
The basis of the family’s case is that they allege Anglo Irish Bank lent them more than £2bn for the illegal purpose of increasing its own share price.
The court ruled that Patricia Quinn and the couple's five children were entitled to make arguments that the IBRC breached market abuse regulations and company legislation in its loans to the family, in their action against the bank.
The Background
Businessman Sean Quinn was declared bankrupt in the High Court back in January.
Mr Quinn had his bankruptcy status in Northern Ireland annulled days before this ruling and accepted the decision which was brought by the IBRC over debts of approximately €2bn.
The former billionaire is no longer bankrupt in the UK.
Mr Quinn's business empire collapsed over the past two years after bank shares he purchased became worthless.
(LB)
Mr Quinn’s wife and five children are challenging the demands made by the Irish Bank Resolution Corporation (IBRC) to repay loans totalling €2.3 billion.
The basis of the family’s case is that they allege Anglo Irish Bank lent them more than £2bn for the illegal purpose of increasing its own share price.
The court ruled that Patricia Quinn and the couple's five children were entitled to make arguments that the IBRC breached market abuse regulations and company legislation in its loans to the family, in their action against the bank.
The Background
Businessman Sean Quinn was declared bankrupt in the High Court back in January.
Mr Quinn had his bankruptcy status in Northern Ireland annulled days before this ruling and accepted the decision which was brought by the IBRC over debts of approximately €2bn.
The former billionaire is no longer bankrupt in the UK.
Mr Quinn's business empire collapsed over the past two years after bank shares he purchased became worthless.
(LB)
Related Northern Ireland News Stories
Click here for the latest headlines.
22 November 2024
SDLP Calls For Action On Food Bank Crisis
The SDLP has called on the Communities Minister, Gordon Lyons, to outline how he intends to tackle food bank reliance across Northern Ireland.
SDLP Calls For Action On Food Bank Crisis
The SDLP has called on the Communities Minister, Gordon Lyons, to outline how he intends to tackle food bank reliance across Northern Ireland.
25 November 2024
Man Arrested In Connection With £150,000 Cannabis Seizure
Detectives from the Police Service of Northern Ireland's Organised Crime Unit, in partnership with Belfast Harbour Police, have made a significant breakthrough in their fight against drug crime. On Friday evening, November 22nd, a vehicle was intercepted and searched in the West Bank Road area of north Belfast.
Man Arrested In Connection With £150,000 Cannabis Seizure
Detectives from the Police Service of Northern Ireland's Organised Crime Unit, in partnership with Belfast Harbour Police, have made a significant breakthrough in their fight against drug crime. On Friday evening, November 22nd, a vehicle was intercepted and searched in the West Bank Road area of north Belfast.
24 November 2011
Quinn Ordered To Repay €417M
Troubled businessman Seán Quinn must repay €417m to the Irish Bank Resolution Corporation (IBRC), following an order by the Commercial Court on Wednesday.
Quinn Ordered To Repay €417M
Troubled businessman Seán Quinn must repay €417m to the Irish Bank Resolution Corporation (IBRC), following an order by the Commercial Court on Wednesday.
01 November 2012
Quinns Due Back In Court
Sean Quinn and his son are due back in a Dublin court later as the inquiry continues as to whether or not the former billionaires have complied with court orders. Sean Quinn was once the richest man in Ireland, but declared himself bankrupt last year.
Quinns Due Back In Court
Sean Quinn and his son are due back in a Dublin court later as the inquiry continues as to whether or not the former billionaires have complied with court orders. Sean Quinn was once the richest man in Ireland, but declared himself bankrupt last year.
15 April 2011
Quinn Barred From Own Insurance Firm
A leading Irish entrepreneur is to loose control of the insurance business he personally founded after it ran into financial problems. Sean Quinn and his family will no longer have any role in the management of the Quinn Group following a restructure.
Quinn Barred From Own Insurance Firm
A leading Irish entrepreneur is to loose control of the insurance business he personally founded after it ran into financial problems. Sean Quinn and his family will no longer have any role in the management of the Quinn Group following a restructure.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
