Quinn children had '€36m contracts'
Documents salvaged within the last few weeks from a damaged computer in Russia show the family of bankrupt businessman Seán Quinn had employment contracts with Russian companies providing for multi-million payments for termination of their employment, including almost €36 million each for Aoife, Ciara and Colette Quinn, the former Anglo Irish Bank has claimed.
The material also showed contracts providing termination payments of €26m for Peter Darragh Quinn, Mr Quinn's nephew, and almost €15m for his son, Seán Junior, the bank said.
Under other contracts dated June 15th 2011, with additions of July 26th 2011, Seán Quinn Junior's wife Karen Woods - at the time his fiancée - was to receive termination payments of more than €36m and an annual salary of about €560,000, while Niall McPartland, husband of Ciara Quinn, had contracts for similar sums, it is claimed.
Some of the contracts were back-dated to make it appear they were signed before a court order was made on June 27th 2011, restraining the stripping of assets from the Quinn's international property group, the bank has also alleged.
Irish Bank Resolution Corporation, formerly Anglo, says this and other new evidence shows Seán Quinn Junior was a "key decision maker" in relation to management and control of Russian and other international companies at the centre of alleged asset-stripping measures.
Had this material been before the High Court earlier this year in the hearing to determine whether Seán Quinn Senior, his son and nephew Peter Darragh Quinn breached court orders restraining stripping of assets from their international property group, it would have had an important influence on the court, the bank claims.
It has applied to the Supreme Court to admit the material in the appeal by Seán Quinn Junior against a finding he was guilty of contempt and a decision jailing him.
It also wants the court to consider a video recording of a meeting in Kiev on July 21st 2012 which, the bank claims, showed Seán Quinn Junior was involved in an asset-stripping scheme in the Ukraine.
Counsel for Seán Quinn Junior said today they were not opposing the bank's application to admit the new material.
In an affidavit, Richard Woodhouse of IBRC, formerly Anglo, said the "significant" new documents had been obtained by the bankruptcy administrator appointed in late July by it to Finansstroy, a key Russian company in the Quinn's IPG, from that company's computer damaged harddrive.