Quinn family’s action against Anglo delayed after fresh developments

The action by the family of jailed businessman Seán Quinn against the former Anglo Irish Bank aimed at avoiding liability for €2.34bn loans has been delayed due to two new developments, the Commercial Court heard yesterday.

The DPP has asked to have the family’s case — listed for Apr 9 — deferred while the Quinns are considering applying to join the Central Bank and the Department of Finance as co-defendants to their case alleging €2.234bn loans were made by Anglo to Quinn companies for the unlawful purpose of propping up the bank’s share price.

The developments were notified yesterday to Mr Justice Peter Kelly who said they meant the trial could not proceed in April. Any move to join the Central Bank and department would “change the whole landscape” of the case, he said.

The judge heard the DPP, having seen legal documents in the family’s case, wrote to the bank last week saying she believes the family’s action raises issues overlapping with issues in forthcoming criminal proceedings against former Anglo chairman Seán FitzPatrick and two former executives of the bank — William McAteer and Pat Whelan.

If the family’s case is heard before the criminal proceedings, the DPP is concerned it could prejudice those proceedings and therefore wants it deferred until after the criminal case. The DPP did not want to interfere in the family’s case beyond ensuring the integrity of the criminal proceedings was protected, said Paul Anthony McDermott, for the DPP.

Paul Gallagher SC, for Irish Bank Resolution Corporation, formerly Anglo, said the bank would not oppose the DPP’s application but believed, even if the family case was deferred, steps such as discovery of documents could continue to advance preparations for that action.

Mr Justice Kelly said the Quinns were entitled to time to consider the DPP’s intervention as they had received notice of that just last Friday.

He fixed Jan 29 next to deal with the DPP’s application and any application by the Quinns to join the Central Bank and the minister or department of Finance to their case.