July date set for Anglo bid against Quinn

ANGLO Irish Bank’s bid for injunctions to prevent businessman Sean Quinn and his family transferring assets from Swedish companies that hold the family’s properties in several countries has been provisionally listed for hearing later this month.

Mr Justice Frank Clarke yesterday provisionally fixed the interlocutory injunction application for hearing on July 13, before the High Court in Cork, as he will be sitting there then.

The date is subject to approval from the president of the High Court.

The proceedings were mentioned yesterday for the purpose of arranging a hearing date and ancillary issues.

Paul Gallagher SC, for Anglo, said the Quinn side had indicated their affidavits would not be ready until Thursday.

While his side could not raise any issue about that, the bank was anxious to have a hearing of its injunction application the following week.

Counsel asked that the proceedings be mentioned next Friday with a view to a hearing on July 13.

Bill Shipsey SC, for the Quinn side, said there was likely to be more than one affidavit from his side and they had to get advice in several jurisdictions. If some of the defendants were challenging jurisdiction, they would indicate that before Friday next.

Mr Justice Clarke adjourned proceedings for mention next Friday, with the interim orders continuing until then.

Any motion challenging jurisdiction should also be made returnable before him then to also be provisionally listed for hearing in Cork on July 13.

In its proceedings, Anglo, owed €2.8 billion by Quinn interests, claims the Quinn side had set up a “mirror corporate structure” — the Cranag-han Foundation — in a “systematic attempt” to transfer assets to “mirror” Quinn companies for the benefit of the Quinn family, including Sean Quinn’s children and grandchildren.