Group raises €2m for Quinns

A group of businesses said it has raised pledges of up to €2 million to assist the Quinn family.

Concerned Irish Businesses, which supports bankrupt businessman Sean Quinn, received pledges from successful and high-net worth people north and south of the border, spokesman Adrian McCaffrey told RTE Radio today.

The freezing of Quinn family assets and the jailing of Sean Quinn Junior were catalysts for the pledges, Mr McCaffrey said.

No member of the Quinn family had made a pledge, Mr McCaffrey said.

The group is looking at how such pledges could be utilised and could fund the legal case of the Quinn family.

In recent weeks the the High Court allowed several family members of bankrupt businessman Seán Quinn to vary the terms of freezing orders imposed on them so they can pay more than €160,000 in legal fees to their former lawyers.

Earlier this month the High Court agreed to allow Dublin law firm Eversheds to come off record and cease representing the Quinns in their legal battles with IBRC in two sets of proceedings – the family’s action denying liability for the €2.8 billion loans and the bank’s action alleging members of the family engaged in asset-stripping measures.

The lawyers had come off record because the Quinns could no longer afford to pay them in their ongoing litigation against the bank.

The firm continues to represent Seán Quinn jnr, who was jailed in July for three months for being in contempt of court.