Quinns claim honestly unaware

The family of businessman Seán Quinn want to amend their case against the State-owned IBRC to allege they were innocently unaware, when signing share pledges and guarantees as security for €2.34bn loans from Anglo Irish Bank to Quinn companies, that security was allegedly for the unlawful purpose of propping up the bank’s share price.

They claim they should be entitled to advance a specific claim of innocent unawareness at the hearing of their action aimed at avoiding liabiltiy for the €2.34bn loans.

The trial of that action, initiated in 2011, has been deferred four times at the application of the DPP on grounds it might prejudice separate criminal proceedings against former Anglo executives and officials.