Seán Quinn jnr and wife seek restoration of €9,500 monthly expenses
The couple claim they did not receive money in December or January
Sean Quinn jnr and wife Karen Woods: counsel told the court the cessation of the payments had caused the couple, of Castleknock, Dublin, some hardship particularly around Christmas
Seán Quinn’s son and his wife have claimed before the Commercial Court they are no longer in receipt of living expenses of approximately €9,500 a month. This had caused them some hardship, particularly over Christmas, the court heard.
Seán Quinn jnr and his wife, Karen Woods, were among members of the Quinn family who in 2012 were allowed living expenses by the court after having their accounts frozen below €50 million each.
Mr Quinn claims the payments were recently stopped as part of “a litigation strategy against us”. The claims are denied. The living expenses were approved following an application in proceedings by Irish Banking Resolution Corporation, formerly Anglo Irish Bank, aimed at protecting up to €500 million assets in the Quinn’s international property group (IPG).
IBRC claims the Quinns misappropriated assets IPG as part of a scheme to frustrate the bank’s efforts to recover loans of up to €2.8 billion against them and they were prepared to dispose of those assets.
The claims are denied.
As part of its action the bank secured account freezing orders against various members of the Quinn family and orders appointing receivers over their assets Ireland and worldwide, apart from family homes and certain jointly held accounts.
The orders were varied from time to time to allow Mr Quinn jnr €6,700 living expenses a month, while his wife was in receipt of €2,895 a month.
Mr Quinn did not get any expenses in December and neither of them got any expenses in January, Mr Justice Brian McGovern heard on Monday.
The couple, who have three children and were represented by Ross Aylward, have brought a motion against IBRC and joint receivers appointed over the couple’s assets aimed at having the payments restored.
Counsel said the cessation of the payments had caused the couple, of Farmleigh Close, Farmleigh Woods, Castleknock, Dublin, some hardship particularly around Christmas.
Barry O’Donnell SC for IBRC and Andrew Fitzpatrick SC for the receivers Declan Taite and Sharon Barrett asked the court for time to respond to the claims made by Mr Quinn and his wife.
The judge adjourned the application to later this week.