Busy times ahead for Quinn solicitors
ONE MORE THING: Dublin law firm Whitney Moore Solicitors has had a busy start to the year. It recently became the latest firm appointed to represent the Quinn family (not including Seán Snr) in relation to the substantial action they commenced against Irish Bank Resolution Corporation in 2011.
Their action is seeking to have IBRC’s claim on the security which the family provided for the loans that were advanced to the Quinn Group by Anglo Irish Bank/IBRC declared invalid as the loans were used to fund margin calls on CFDs linked to Anglo’s share price.
Disputed loan values
The family claim this was illegal under Section 60 of the Companies Act and under Market Abuse Regulations. The value of the loans is disputed by the two sides with the family putting the figure at €455 million rather than IBRC’s €2.88 billion. Managing partner Stephen Walker is leading the case, which is set to be one of the most high-profile corporate law cases before the Irish courts.
Separately, Whitney Moore has merged with Moriarty Co, a five-lawyer practice. The deal was completed over Christmas. Moriarty specialises in litigation and its senior partner, Brendan Moriarty, will become a partner in Whitney Moore.