Informants to give IBRC details of ‘substantial’ undisclosed Quinn assets

Unidentified informants have told the Irish Bank Resolution Corporation they have information on substantial assets allegedly owned by the family of Seán Quinn, which they claim have not been disclosed, the commercial court has heard.

The special liquidator of the former Anglo Irish Bank did a deal with the two “informants” last year where they are to get 3% of any cash recovered as a result of their information.

Their names are not being disclosed.

Mr Justice Kelly was told yesterday that “gagging orders” that applied to orders sought earlier this year in London and Delaware, US, have now been lifted and the bank was updating the court.

It would also be informing the Quinn family about the development.

The British and US orders resulted in the IBRC liquidators getting information about traffic between particular email addresses, the court was told. The identities of the informants “and their source” had not been disclosed to the English or US courts, the commercial court heard. The informants claimed they had information concerning bank accounts and an alleged investment in gold.

SC Paul Gallagher told Mr Justice Kelly the bank had the details of email traffic, and expected to get the actual content of much of the emails next week, by way of the US court.

Mr Justice Kelly thanked Mr Gallagher for the update on developments, which he said he would note. He gave IBRC permission to bring any further application on foot of recent developments.