Quinn family determined to fight on
A daughter of bankrupt businessman Seán Quinn said her family was determined, with or without lawyers, to pursue their action denying liability for up to €2.8 billion of loans made to Quinn companies by the former Anglo Irish Bank.
The family has been given until September 24th by Mr Justice Peter Charleton to provide "definite and concrete" proposals how they intend to proceed.
At the Commercial Court today, Irish Bank Resolution Corporation, formerly Anglo, said it is still has no information about the whereabouts of an estimated $32 million related to properties in the family's international property group (IPG).
Brian Murray SC, for the bank, said the Quinns must provide that information before it would agree to any variation of the freezing orders on their accounts to allow €40,000 be paid to overseas lawyers representing the family.
Counsel for receivers appointed over assets of the family said their concerns over delays getting documents concerning those assets increased after being told computer memory sticks containing documents were stolen from the Quinns three days before the receivers were appointed in July.
Stephen Kelly, a son-in-law of Seán Quinn, said the memory sticks were among material stolen from his car. A full Garda report was made and some, but not all, of the stolen material was recovered.
The judge made orders, on consent of the Quinns, allowing Dublin law firm Eversheds cease representing the family 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.
Eversheds will later apply to continue representing Seán Quinn jnr in his Supreme Court appeal, fixed for October 2nd, against an order last July jailing him for contempt of orders restraining the stripping of assets from the IPG.
Brenda Quinn, accompanied by two of her brother-in-laws - Niall McPartland and Mr Kelly - said the family are not sure how the case will proceed without Eversheds and needed time to consider what to do.
Ms Quinn said the family were "determined to proceed…if that means representing ourselves, we don't want to do that but will do all in our power to have the case proceed".
Mr McPartland said all the family were consenting to Eversheds' application and thanked the solicitors and counsel Bill Shipsey SC, Brian O'Moore SC and Rory Mulcahy BL.
The family needed time to consider their options but were not seeking to be evasive or delay matters, he said.
The coming off record application arose from the family's ability to fund the litigation and the family hoped to be able to give the bank some comfort about the legitimacy of funds, he said.
In relation to the second action alleging members of the family conspired to strip assets to frustrate the bank's claim, Mr Murray said the Quinns had got more time to August 27th to provdie affidavits disclosing assets. While affidavits were delivered, the bank had issues about the adequacy of disclosure and documents in possession of Eversheds were to be provided last Friday but were not.
The Quinns wanted variation of freezing orders to pay €40,000 legal fees but the bank must first be satisfied that money came from the Quinns own funds, not assets secured in favour of the bank.
Mr McPartland said it had been indicated there would be difficulty getting documents from Eversheds as monies were owed for legal fees and the family wanted to see if an agreement could be reached.
Reasons for the delay in filing affidavits included that his wife gave birth to a baby last month, he said.