Family bid to stop Quinn group assets being sold or moved to Nama

The family of bankrupt businessman Sean Quinn has gone to court to stop multi-million assets in the Quinn group being sold off or moved into Nama by the end of the year.

The Quinns claim they are the rightful owners of the assets and the special liquidator of State-owned Irish Bank Resolution Corporation, formerly Anglo Irish Bank, is not entitled to transfer them to Nama or sell them by Dec 31 as required by a direction of the minister for finance.

IBRC special liquidator Kieran Wallace, is opposing the application before the Commercial Court. He contends the Quinns have established no basis for orders of “astonishing breadth and consequence,” that, he said, would significantly prejudice the bank and the public interest.