Quinn family claim €2.3bn Anglo loans ‘unenforceable’

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.

The action by Patricia Quinn and her children, Aoife, Colette, Brenda, Ciara and Sean Jnr, arises from events of the past two years that led to the family losing control of companies in the Quinn group.

Mr Justice Peter Kelly transferred the case yesterday to the Commercial Court. It involves the largest ever claim in the court’s seven-year history and is likely to be heard early next year.