Bid to adjourn Anglo’s case against Quinn

The DPP will ask the Commercial Court today to adjourn the former Anglo Irish Bank’s long-running “conspiracy” case against bankrupt businessman Seán Quinn, members of his family, and others until the criminal trial of former Anglo chairman Sean FitzPatrick and two of the bank’s former senior executives has concluded.

The bank’s action alleging a conspiracy by the Quinn defendants and others to strip assets valued at up to €455m in the Quinn’s international property group (IPG) was initiated in June 2011.

As the criminal proceedings against Mr FitzPatrick will not open until Jan 2014, it could be years before the full actions between the Quinn family and the bank are determined.

The Quinns claim loans of about €54m were made to IPG companies of which, they allege, only €9.2m relates to companies involved in the conspiracy case. They claim the rest of the €445m sum is not relevant to the conspiracy case.

There have been more than 40 pre-trial applications, including for orders freezing accounts of several family members and contempt proceedings leading to the jailing of Seán Quinn and his son Seán Quinn Jr.

If the DPP’s application for an adjournment of the full conspiracy case is granted, other pre-trial applications, including the cross- examination of the Quinn children to see if they have made full disclosure of their accounts and information concerning IPG companies, will still be heard.

The Quinns’ bid to have the conspiracy case adjourned was listed for hearing on Feb 28 but will not proceed if the DPP’s application is granted.

Yesterday, Mr Justice Peter Kelly was told by Shane Murphy, for Irish Bank Resolution Corporation, formerly Anglo, that the trustee dealing with Seán Quinn’s bankruptcy has decided not to defend the conspiracy case on behalf of Seán Quinn’s creditors.