Quinns and Anglo back in court as deal collapses

CIARÁN HANCOCK

The Quinn family and Anglo Irish Bank will go back to court next month after a deal to settle their multibillion-euro dispute fell through.

Minister of State at the Department of Finance Simon Harris confirmed the negotiations between the two parties had collapsed and the case would "likely be settled by the courts". The two are pencilled in for June 6th with the case likely to last six months and potentially spill into next year.

Special liquidator

Mr Harris denied the collapse in talks had anything to do with the department. He said: “I am not privy directly to the talks but my understanding is the special liquidator was ad idem with others with the view that this wouldn’t have been successful with negotiations.”

It is understood the special liquidators informed the department a month ago the negotiations were unsuccessful and a court dispute was likely. The peace offering was stalled after the liquidator received information which suggested it wouldn’t have been in the interests of the taxpayer.

Mr Harris said: “The Minister doesn’t have an explicit role in approving the special liquidators’ roles.” The deal would have seen the family drop their court action over loans of €2.4 billion and the bank drop actions against the Quinn family.

Siteserv sale

Meanwhile, the controversy surrounding the Siteserv deal continued yesterday after Mr Noonan was accused of misleading the Dáil. Mr Noonan has stated he first became aware of the sale on March 23rd but it had been approved by the bank’s board on March 15th. Former chairman of the

Irish Bank Resolution Corporation

Alan Dukes

has insisted the department was involved at every step. Independent TD Catherine Murphy said there was a conflict between the two men’s recollections.

She said Mr Noonan needed to provide a statement to the Dáil. Mr Noonan said his department gave “full and complete answers” to any questions.

Speaking on RTÉ's The Week in Politics yesterday, Mr Noonan said: "What they didn't give out was background information and the deputy knew quite well she could get background information by way of a Freedom of Information request and she did that."