Bank challenges Quinn bankruptcy

The challenge by the Irish Bank Resolution Corporation, formerly Anglo Irish Bank, to Sean Quinn’s Northern Ireland bankruptcy is to be heard on December 19th and 20th, the High Court in Belfast ruled this morning.

The court said Mr Quinn, formerly considered to be Ireland’s richest businessman, should be available on those dates in case there is a need to hear oral evidence.

The IBRC is trying to contest Mr Quinn’s bankruptcy on the grounds that the centre of main interest of Mr Quinn’s commercial activities is in the Republic, and not Northern Ireland, as he told the courts during his recent successful application for bankruptcy status.

The court heard that the dispute will involve consideration of European case law. Mr Quinn’s legal lawyers said a potentially large amount of material might have to be put to the court in relation to the centre of main interest of his commercial activities, and that it might take some time to collect this.

However because a lot of this work should have been completed at the time of Mr Quinn’s bankruptcy application, the court ruled Mr Quinn would have to reply to the IRBC by way of affidavit by December 7th.

The case may be able to be decided without the hearing of oral evidence, lawyers for both sides told the court. The IRBC said it would inform the High Court in Dublin of what was occurring in Belfast.

Yesterday the Dublin court granted a judgment to the IRBC against Mr Quinn for an amount of €417 million, but held over judgment on a further €1.6 billion the IRBC says it is owed, to Monday next.

Yesterday’s summary judgment order by the Commercial Court was the largest ever made by the court against an individual.

Lawyers for the office of the official receiver in Northern Ireland told the Belfast High Court today it would not be making any further applications to the Dublin courts to delay the making of any judgment orders against Mr Quinn.