IBRC challenges Quinn assets move

An application by members of the Quinn family to stop assets of Quinn companies being moved to Nama ignores the fact those assets have already been stripped by some family members, Irish Bank Resolution Corporation has claimed before the Commercial Court.

If IBRC does recover any of those assets after spending sums in Russia, Ukraine, and India, the effect of the Quinns getting the orders sought would mean those assets would be impounded pending the outcome of the family’s legal case, said Paul Gallagher SC, for the bank.

The Quinns had made out no legal basis for the orders as they did not own or control the companies.