THE daughters of bankrupt businessman Sean Quinn have asked the former Anglo Irish Bank to attend 11th hour mediation talks to settle their differences — and avoid their father being sent to jail.
Mr Quinn’s daughters and other family members whose assets have been frozen by court order have privately asked Anglo — now renamed the IBRC — to try to resolve many of the issues in the aggravated dispute in out-of-court talks.
Ciara Quinn, one of Mr Quinn’s five daughters, had previously declared the family would win its “war” with the State-owned lender, which is pursuing her and her siblings for more than €2bn in unpaid loans.
The Quinn family is challenging the legality of the loans in a case due to begin next year.
Mr Quinn and his wife Patricia, whose only son Sean Quinn Jnr is serving a three-month jail sentence for contempt, wept as supporters cheered Ciara Quinn’s apparent declaration of war at a weekend rally in Cavan.
The Quinn daughters and other family members, including Sean Quinn Jnr’s wife Karen Woods, Ciara Quinn’s husband Niall McPartland and Aoife Quinn’s husband Stephen Kelly, face tough sanctions if they do not comply with onerous court orders to disclose their financial affairs.
Members of the Quinn family subject to the wide-ranging freezing orders must disclose all of their assets, all bank accounts and any documentation relating to a scheme to put up to €500m worth of Quinn family assets beyond the IBRC’s reach.
The family is said to be devastated that the IBRC, who would not comment on the proposed talks, would not agree to mediation. But it is unclear how these disclosure orders could be mediated as they are issued by the courts.
Sean Quinn Snr is set to find out on Friday if he will face jail for breaking court orders not to interfere with the family’s international property group (IPG).
The Supreme Court has reserved judgment on an appeal by Sean Quinn Jnr against his imprisonment for contempt of court and both sides may seek a postponement of Sean Quinn Snr’s sentence pending the outcome of the appeal.
Sunday’s rally in Ballyconnell has cemented public support in the border for the Quinn family, but it has attracted condemnation from senior political figures including Fine Gael chairman Charlie Flanagan.
Mr Quinn’s brother Peter Quinn called the media “bastards”, in a speech listing the family’s grievances against Anglo at the event.
Mr Flanagan said the language used by Mr Quinn “belongs in the gutter”.
“Mr Quinn is happy to be seen in public in Northern Ireland with his son (Peter Darragh) who is currently avoiding the sentence handed down to him by a court in the Republic,” said Mr Flanagan.
“Our courts are a fundamental pillar of our democracy and the law must take its course. It is highly unsatisfactory that some people feel that these standards do not apply to them.
Speaking to RTÉ Radio One’s This Week programme, spokesperson Adrian McCaffrey said the monetary promises have come from “successful business people” and “high net worth individuals” living both north and south of the border.
He added that no money has been collected yet as Concerned Irish Business’ was just looking for pledges at the moment.
“We haven’t solicited any of the pledges. We’ve talked to people and believe we have a seven figure sum,” he said. When pressed, he confirmed that the amount was “up around that scale” of €2 million.
He said the group was looking at legal and governance structures for ways the pledges can be turned into money and utilised to help the Quinn family.
The names of any potential donators have not been revealed but McCaffrey confirmed none were members of the family itself. Recent rallies held in Ballyconnell in Cavan have been attended by high profile personalities, including Tyrone manager Mickey Harte, former Meath manager Seán Boylan, player Colm O’Rourke and well-known priest Fr Brian D’Arcy.
Another ‘Rally for Justice’ is scheduled for 14 October.
The campaign was ramped up after the jailing of Seán Quinn Junior last July and the stepping down of the family’s legal team.
“The Quinn family bank account has been frozen and the stepping down of the legal team…initiated actions by different people to come forward and offer their assistance,” explained McCaffrey.
Ireland’s one-time richest man and his family are currently representing themselves across various legal battles with IBRC, the former Anglo Irish Bank.
A great response
As posted in Boards.ie by a great poster: http://www.boards.ie/vbulletin/showpost.php?p=80868385&postcount=22
Quick explanation for ya.
* Quinns took out about €500m in mortgages from Anglo to buy property around the world. This is seperate to buying shares in the bank.
* Anglo has to be bailed out by taxpayer. It becomes IBRC. IBRC needs to get as much of the money leant by Anglo as possible to repay the taxpayer.
* Quinns cease making repayments and try to hide the above mortaged properties from IBRC.
* It all goes to court, judge tells Quinns to stop trying to hide these assets/mortgaged propreties.
* The quinns don’t do this therefore they are in contempt. Therefore its off to the big house for 3 months.
* Trial will resume later. Then they are properly fvcked.
All the above means the Quinns have tried to steal €500m worth of assets from their rightful owner -the Irish taxpayer. Sean Quinn has publicly admitted this.
This is more money than anyone else has stolen or even attempted to steal in the hitory of the state. I’d quite like to have those assets returned, cash being a bit short at the minute.
Again, all this is seperate from the buying of shares by Sean Quinn in Anglo.