Quinn takes the stand in IBRC case against him

Quinn takes the stand in IBRC case against him

Bankrupt businessman Sean Quinn has taken the stand in a High Court action by the former Anglo Irish Bank that could lead to his being jailed.

The bank, now called IBRC, claims the former billionaire, his son Sean Quinn junior and his nephew Peter Darragh Quinn, have breached court orders from last summer stopping them from moving assets around.

All three deny the claims.

Mr Quinn has told the court he naively believed the Anglo story from 2004 and later believed they would honour their commitments through a consensual agreement.

When that did not happen he said he was "very angry and upset" and that his objective was to "move assets beyond Anglo's control".

The bank is trying to recoup loans of €2.8bn.


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