Quinn family has concerns about new Anglo Act

The IBRC Act appears to give no power to the courts to lift the new statutory stay in the act halting all existing proceedings against Irish Bank Resolution Corporation, formerly Anglo Irish Bank, a High Court judge said yesterday.

The Commercial Court heard the Quinn family — who have sued IBRC — are concerned about the act.

Mr Justice Peter Kelly yesterday said the statutory stay was “in absolute terms” and the act disapplied the court’s discretion to lift it. There was “a very wide definition” of legal “proceedings” in the act, he said.