Bank does not believe Quinns’ assets are gone

The former Anglo Irish Bank has told the Supreme Court it does not accept claims by the family of bankrupt businessman Seán Quinn that more than €430m assets in their international property group are gone and cannot be recovered by the bank.

It was “extraordinary” that Seán Quinn Jr, in his appeal seeking release from jail, was saying he could not reverse asset-stripping steps when new evidence salvaged from a damaged computer in Russia showed the Quinns had control of IPG companies, Paul Gallagher SC, for Irish Bank Resolution Corporation, formerly Anglo, said.

The undisputed evidence was, to remove monies from the IPG companies, the Quinns engaged in a “deliberate and complex fraud” of those companies which continued after court orders restraining asset-stripping were made in summer 2011, he said.