Quinn jnr prepared to sell Dublin house to purge contempt, court told
Seán Quinn jnr, the son of jailed businessman Seán Quinn, is prepared to sell the Dublin home he shares with wife Karen Woods in a bid to purge his contempt of court, the High Court was told yesterday.
Irish Bank Resolution Corporation told the court it wants time to assess Mr Quinn jnr’s offer to give his half-share of the proceeds of sale of the couple’s apartment to Quinn Properties Ukraine, a company within the Quinn family’s International Property Group (IPG).
Shane Murphy SC, for the bank, said it also wanted to consider other matters in a letter sent to it by solicitors for the Quinns, including a €1.5 million payment out of Russian companies in the IPG.
Martin Hayden SC, for the Quinns, also sought time to address issues and, in those circumstances, Ms Justice Elizabeth Dunne adjourned the case to next Wednesday.
Yesterday Ms Justice Dunne was told Mr Quinn jnr was prepared to sell the home he jointly owns with his wife at Alder Lodge, Farmleigh Woods, Castleknock, and lodge the proceeds of the sale into court.
Due to court orders restraining the couple disposing of assets, they require court permission to sell the property.
In their letter, Arthur McLean Solicitors said the couple wanted the court to defer the marketing and sale of the property until September 2013 to allow them some months “to regularise their lives together” as they had just married earlier this year, and shortly afterwards Mr Quinn jnr was jailed.
The letter said the property is the only asset of Mr Quinn’s likely to achieve $500,000, the sum paid to the director of Quinn Properties Ukraine, which led to his imprisonment.