Court to decide tomorrow week on whether Quinn family can continue legal action

Court to decide tomorrow week on whether Quinn family can continue legal action

The Commercial Court will decide tomorrow week whether a legal action by bankrupt businessman Sean Quinn's family against the former IBRC can continue.

Their lawyers say the Commercial Court has the power to lift a statutory stay on their lawsuit against IBRC.

The stay, which affects all existing legal proceedings against the bank, took effect when the Oireachtas enacted emergency legislation last month to wind up IBRC.

The Quinns are suing the former Anglo Irish Bank over the legality of €2.3bn of loans issued to Quinn companies.

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