Case between Anglo and Quinn deferred over change of judge

THE CASE between Anglo Irish Bank and members of the family of businessman Seán Quinn over control of certain property assets…

THE CASE between Anglo Irish Bank and members of the family of businessman Seán Quinn over control of certain property assets has been deferred after a switch in the judges dealing with the case.

Senior Cypriot judge Yiasemis Yiasemi, who heard initial submissions in June, took over from Antonis Liatsos who had presided over Monday’s hearing.

During meetings with counsel for both sides, Judge Yiasemi overruled technical objections by the Quinns over specific sections of the comprehensive affidavit submitted by Richard Woodhouse, Anglo head of corporate projects.

Anglo was represented at the hearing by Mr Woodhouse, Karyn Harty of McCann Fitzgerald and Katia Kakoulli of Limassol law firm Chrysses Demetriades.

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Attending the session, at which key determinations on the fate of the affidavit had been expected, was Seán Quinn jnr and the Quinn group’s legal team from Andreas Sofocleus Co, also of Limassol.

Speaking to The Irish Times in the courtroom after the brief hearing, Mr Woodhouse said the delay was “regrettable but the period of time before the case is heard will not affect the content of the affidavit. The technicalities have been lifted. We look forward to determination on September 30th.”

Quinn counsel had argued that the affidavit, which runs to 40 pages, should respond only to the affidavit it submitted at the end of June.

The aim of Quinn counsel was to prune key sections of the Anglo affidavit to which the Quinn family objected.

S. Pittas, acting for the Quinns, remained upbeat. “We have a very good case, we intend to fight it until the end,” he said.

Mr Pittas observed that “all the loan agreements” involved in the case “are illegal”.

“The bank had given loans to purchase its own shares. It has no right to take over Cypriot companies” which own Russian companies with assets of $250 million which Anglo seeks to recover.