Quinn to find out today if he will be jailed

Bankrupt businessman Sean Quinn will learn this morning whether he will be jailed over contempt of court orders restraining the stripping of multi-million assets from his family’s international property group.

His lawyer yesterday made an impassioned plea in the High Court that jail should be the last resort for the man who was once Ireland’s “leading entrepreneur”, an icon and “leading light of the Celtic Tiger”.

Irish Bank Resolution Corporation, formerly Anglo Irish Bank, claimed in court Mr Quinn failed to purge his contempt and said it believes Quinn family members continue to direct steps to prevent it recovering assets for the taxpayer.

The bank has been “continuously and unlawfully” frustrated by the Quinns or their agents, is involved in litigation in 10 countries and has reached the stage where it considers it cannot recover assets acting alone and must engage an asset recovery specialist company in Russia to help, it said.

In a plea to Ms Justice Elizabeth Dunne not to jail Sean Quinn Snr, Eugene Grant said the former billionaire has now lost his companies and wealth and at aged 66, he was “bereft and forlorn”. Counsel said Sean Quinn will be bankrupt into his seventies as a result of the actions of the bank and was also on medication for several health problems.

He said Mr Quinn insisted he was not in contempt of court orders of June/July 2011 restraining stripping of assets and is appealing the judge’s findings last June that he was. The court should defer any decision on jailing Mr Quinn pending that appeal and jail must be seen as “the last resort”.

Sean Quinn Snr, in an affidavit, denied he has any control over the IPG assets but said he and his family are willing to do all they can to assist the bank in recovering assets and to purge the contempt found against him and his son. He took his obligations under the court orders with the “greatest seriousness” and was “absolutely committed” to purging his contempt and to moving on with his life.

Shane Murphy, counsel for IBRC, said Ms Justice Dunne had found aspects of Mr Quinn’s evidence during the contempt hearing as not credible, evasive and uncooperative and that he gave his “imprimatur” to an asset stripping scheme which was implemented in a “blatant, dishonest and deceitful” manner.

The core issue was that this was a serious contempt with the object of putting assets beyond the reach of IBRC and the evidence was Mr Quinn had not purged that contempt, counsel said.

Sean Quinn Snr, his son Sean Jnr and son-in-law Niall McPartland were in the packed court yesterday for the hearing. There was no appearance by Peter Darragh Quinn.

Sean Quinn Jnr completed a three month prison sentence for contempt last Friday. The bank indicated yesterday it was not at this stage making any application concerning him but wanted time to consider its position. Mr McPartland represented Sean Quinn Jnr and said the contempt matter was hanging over him and he wanted it dealt with.

The judge said Mr Quinn Jnr was entitled to time and has adjourned matters concerning him to Thursday.