Quinn family hints at challenge to ‘immeditate stay’ in IBRC Act

The family of bankrupt businessman Sean Quinn has hinted at a possible legal challenge to the statutory stay in the IBRC Act, which has halted all existing proceedings against the former Anglo Irish Bank.

The Quinns action alleging that Anglo unlawfully “shovelled” €2.34bn loans into their companies to prop up its plummeting share price remains parked by the new law.

If the commercial court rules that the act liquidating IBRC does not allow for the stay to be lifted, the Quinns will reserve their position on any steps to be taken later, their counsel Ross Aylward said yesterday.