Quinns tell court they are at ‘wits’ end’ with bank – The Irish Times – Sat, Oct 27, 2012


Seán Quinn jnr and wife Karen Woods leaving court after a hearing yesterday.

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 millions of euro of assets of the Quinn international property group.

The Quinns yesterday opposed an application by Irish Bank Resolution Corporation, formerly Anglo, for a court cross-examination of the Quinn offspring 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 yesterday that, while he is a strong supporter of mediation, it was not appropriate at this stage given the bank’s opposition 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. Some of the Quinns had sworn matters that turned out to be materially untrue and there continued to be “strong non-compliance” with disclosure orders.

It was wrong to say the bank had not engaged with the family. It had, but the engagement was “unproductive”. The bank had also set out in detail the failures of the Quinns in terms of compliance, he added.

Several of the family were in court, 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.

Speaking on behalf of the Quinns, Niall McPartland, a son-in-law of Mr Quinn, objected to cross-examination and said mediation was a cheaper and faster way of addressing the issues.

The family had told the bank “for the past year and a half” that “we do not have the assets and we can’t get them”, he said.

“We are at our wits’ end” and in a very difficult position, he said. They had offered to assist the bank in its effort to recover assets. It had not taken that up and the “constant bombardment” of court orders was not helping.

While the Quinns accept they have questions to answer in the general litigation, a Supreme Court judge said earlier this week the bank also had questions to answer, he said.

The impression was being given that it was “all the Quinns’ fault” but there was “more going on than meets the eye” and the bank would not have to answer questions as long as it pursued efforts to jail the Quinns. The bank had not spelt out exactly what deficiencies were being alleged against the Quinns, he said. That was not acceptable as any cross-examination could lead to “grave consequences” such as contempt proceedings and possibly incarceration.

via Quinns tell court they are at ‘wits’ end’ with bank – The Irish Times – Sat, Oct 27, 2012.

via Quinns tell court they are at ‘wits’ end’ with bank – The Irish Times – Sat, Oct 27, 2012.

About Old Boy

Love the past and the future but live in the present

Posted on October 27, 2012, in Crime and tagged , , , , , , , , , . Bookmark the permalink. Leave a comment.

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