Quinns to sue Central Bank and department

The family of bankrupt businessman Seán Quinn intend to sue the Department of Finance and the Central Bank over allegedly conspiring with Anglo Irish Bank in advancing €2.34bn unlawful loans to Quinn companies.

The move means the actions of the regulators relating to the loans will now be subject to scrutiny by the courts.

Patricia Quinn and her five children withdrew their application to join the department and Central Bank, in their capacity as regulators, as co-defendants in their action against IBRC, formerly Anglo, denying liability for the loans.