Quinn family cannot rely on alleged illegality by IBRC for case

The family of businessman Seán Quinn cannot rely on alleged illegality by the former Anglo Irish Bank as part of their case denying liability for €2.34bn in loans to Quinn Group-related companies, the Supreme Court ruled.

In a unanimous decision, the five-judge court upheld an appeal by Anglo’s successor, the IBRC, and its liquidator, Kieran Wallace, dealing with a preliminary issue in advance of June’s scheduled High Court hearing of the Quinn claim.

That issue related to what Mr Quinn’s wife Patricia and the couple’s five children say were statutory and regulatory breaches by the bank in relation to guarantees and security given by the Quinns for the loans.