Quinns seek mediation with bank
Members of the family of bankrupt businessman Seán Quinn have told the Commercial Court they are at their "wits' end" dealing with the former Anglo Irish Bank, feel "crucified" and want a mediation of the bitter legal dispute over the location of multi-million assets of the Quinn international property group.
The Quinns today said they will oppose an application by Irish Bank Resolution Corporation (IBRC), formerly Anglo, for a court cross-examination of the Quinn children and some of their extended family to establish if they have disclosed full details of asset-stripping measures.
The Quinns contend they have, but the bank claims otherwise. That matter has been adjourned to November 29th.
Mr Justice Peter Kelly said, while he is a strong supporter of mediation, it was not appropriate at this stage given the bank's opposition to mediation now due to its belief the Quinns had not complied with court orders to fully disclose assets. If mediation became an option later, he would do all he could to assist a mediated resolution.
Barry O'Donnell, for IBRC, said there was "no proper environment" for mediation where some of the Quinns had sworn matters which turned out to be materially untrue amd there continued to be "strong non-compliance" with disclosure orders. It was wrong to say the bank had not engaged with the Quinns, he said, adding it had, but the engagement was "unproductive". The bank had also set out in detail the failures of the Quinns in terms of compliance, Mr O'Donnell said.
Several of the family were in court today including Seán Quinn jnr, who was freed from Mountjoy Prison last Friday on expiry of a three-month detention period imposed for contempt of court orders of June/July 2011 restraining asset stripping.