Quinns and receiver at odds over ‘huge’ sums

A receiver appointed over assets of members of the family of bankrupt businessman Sean Quinn has told the Commercial Court “huge” six-figure sums passed in and out of accounts held in the joint names of Ciara Quinn and some of her children during 2011 and 2012.

The Quinns argue those sums have “nothing whatever” to do with assets of their international property group or any assets that are the subject matter of legal proceedings between them and IBRC.

Kieran Wallace, the special liquidator of IBRC, said in an affidavit that an analysis of accounts disclosed by the Quinns in autumn 2012 showed they were “not maintained for the benefit of the children in question” and involved “extraordinary transactions” whereby vast amounts of money were being channelled in and out of the children’s accounts”.