Record judgment would see Quinn repay €417m

BANKRUPT businessman Sean Quinn has been ordered by the Commercial Court to repay about €417 million to the Irish Bank Resolution Corporation, the largest summary judgment amount ever entered in the courts here against an individual.

The bank had sought total summary judgment orders of about €2 billion. Mr Justice Peter Kelly said yesterday that the bank had a “powerful” case for the entirety of these, to which Mr Quinn seemed to have no defence.

He ruled that IBRC was entitled to the amount as Mr Quinn had admitted in his bankruptcy proceedings in the North that he was liable to the bank for sums of $219.9m and €253.9m.