THE family of businessman Sean Quinn have said loans of €2.34 billion made by Anglo Irish Bank to various Quinn companies and Cypriot-registered companies are unenforceable because they were issued for “an illegal objective of market manipulation” — support of the Anglo share price.

FOUR years ago Seán Quinn was Ireland’s richest man. Now he faces the prospect of bankruptcy.

ANGLO Irish Bank’s chief executive has said there is “no doubt” there will be some write-off of the near €3 billion that it is owed by Seán Quinn and his family.