Anglo official tracked Quinn via chatrooms

A TOP official from the former Anglo-Irish bank has told of reading chatrooms linked to the GAA to monitor gossip on the activities of former billionaire Sean Quinn.

Richard Woodhouse, a senior figure with the now nationalised lender, said internet blogs suggested the former tycoon was trying to return to business.

The evidence was given as a bid by the bank — now called the Irish Bank Resolution Corporation (IBRC) and seeking to recover billions from Mr Quinn — to overturn his bankruptcy entered its second day at Belfast High Court.

Mr Woodhouse told the court that blogs on a GAA website, written by people in the border area where Mr Quinn lived, substantiated rumours that Mr Quinn was setting up an office in a disused tyre factory in Belturbet, Co Cavan.

Mr Woodhouse said that he believed the business would be a new insurance company called “Q2”.

Mr Quinn voluntarily filed for bankruptcy in Belfast last month, claiming his business was based in Co Fermanagh, in the North.

The businessman’s multibillion-euro empire collapsed over the last two years on the back of massive stock market gambles on the share price of the Anglo-Irish bank.

The 65 year old has recently been hit with two separate judgments of €1.74 billion and €416 million by the Commercial Court in Dublin over loans from the lender.

IBRC argues that his true base is in the Republic and contests that earlier this year he moved his business to an office on an industrial estate in Derrylin, Co Fermanagh, in the North.

The bank said it was kept in the dark over the new office and argues that, while that was Mr Quinn’s right, it contravenes European directives that a centre of main interest must be ascertainable to third parties, including creditors.

The bank’s lawyer, Gabriel Moss, repeated his claim that the lease for the office was “manufactured” and “backdated”.

“On the balance of probability, that is the most probable,” said Mr Moss.

Mr Woodhouse, the bank’s group head of specialised management since January 2010, recounted how the bank found out that office equipment was being taken to Belturbet.

He said the bank commissioned a security company to check on the disused site.

“I asked them to observe this tyre factory, if they could find it, and report back to me,” said Mr Woodhouse.

“The disused factory was being fitted out as an office.

“This satisfied me that there was indeed something going on there.”

The court heard that Mr Quinn denied any business dealings at the site.

Under questioning from Mark Orr QC, representing Mr Quinn, Mr Woodhouse denied the bank had run a surveillance operation on the businessman.

Mr Orr said Mr Quinn and his family were well known for their close links to Fermanagh GAA, and for their long-standing family ties to the county.

Mr Quinn’s lawyer also indicated that the local community were aware of the new office Mr Quinn said he opened in Derrylin.

But Mr Woodhouse said he knew nothing of the industrial estate office.

And when pressed on his knowledge of Mr Quinn’s movements, the bank official added: “I wasn’t looking under every stone in every location possible.”

He accepted that Mr Quinn’s pensions were based in Britain.

Mr Orr also told the judge, Mr Justice Donal Deeny, that Mr Quinn’s only National Insurance number is in the Britain.

Mr Woodhouse catalogued business documents which originated in the Republic of Ireland.

He said of the dealings “the family is Irish” and the place for bankruptcy “is in the Republic of Ireland”.