Ciara Quinn, a daughter of bankrupt businessman Seán Quinn, has said she withdrew almost €340,000 from her Russian bank account via cash withdrawals from ATMs here in the space of a year, with most of that going to pay legal fees. She has no documents concerning those withdrawals or payments made from July 2011, she said.
Ms Quinn was also asked about an “extraordinary” series of withdrawals totalling €5,000 from her Ocean Bank account in Moscow, made via ATMs in Blanchardstown, Dublin, in less than 20 minutes on May 25th, 2012.
Shane Murphy SC, for Irish Bank Resolution Corporation (IBRC), asked about the purpose of withdrawals of €500 each at 16.08pm, 16.10pm and 16.11pm; of €600 each at 16.18pm and 16.19pm; €1,500 at 16.24pm; and €800 at 16.27pm.
Hugh Hartnett SC, for the Quinns, objected such questions strayed into issues to be addressed in the full hearing of the legal action by IBRC, formerly Anglo Irish Bank, against various Quinn family members and others alleging stripping of assets from the Quinns’ International Property Group (IPG).
As a mother of three aware the bank had alleged contempt against her, and that contempt can lead to jail, Ms Quinn said she was concerned about answering some questions.
Mr Murphy yesterday cross-examined Ciara and Brenda Quinn about claims they and other Quinn family members have not fully disclosed all information relating to their assets, accounts and involvement with companies in IPG. Colette Quinn’s cross-examination began late yesterday and continues today.
The Quinns insist they have disclosed all relevant documents available. The bank sought cross-examination before the full hearing of its “conspiracy” action.
Mr Justice Peter Kelly yesterday granted an application by Paul Anthony McDermott, for the Director of Public Prosecutions, to stay the full hearing of that action insofar as it touches on issues to be addressed in forthcoming criminal proceedings against former Anglo chairman Seán FitzPatrick and two former senior executives of the bank. Those issues included alleges breaches of Section 60 of the Companies Act, which makes it unlawful for a financial institution to lend money to buy its shares.
Various preliminary matters in the conspiracy case, including cross-examination of the Quinns, may continue in the interim.