Quinn gets €118m bill for role in asset-strip

Peter Darragh Quinn, a nephew of bankrupt businessman Seán Quinn, has been ordered to pay $188m (€144m) damages to Irish Bank Resolution Corporation over his “pivotal” role in a scheme to strip multimillion-euro assets from the Quinn family’s international property group (IPG).

Three Russian companies in the IPG were also told by the Commercial Court to pay damages totalling more than €590m.

The $188m in Mr Quinn’s case marks the “lost value” of the Kutuzoff Tower in Moscow, previ-ously described as the most valuable asset in the IPG.