Quinn family seek mediation over IBRC row

The family of businessman Seán Quinn are seeking mediation of their long and bitter dispute with State-owned IBRC over liability for loans of €2.34bn made by the former Anglo Irish Bank to Quinn companies.

The mediation proposal was made at the Commercial Court immediately after the DPP secured a third deferral of the full hearing of the marathon action due to concerns it could impact on criminal proceedings for hearing next October against former Anglo chairman Seán FitzPatrick.

The case by Patricia Quinn and her five adult children was deferred to January 2016. Martin Hayden, for the Quinns, proposed that the adjournment should be used for mediation.

Separately, lawyers for IBRC have served a motion for judgment on Seán Quinn Sr, seeking indemnity from him against any sums awarded to his family should they win their case or, without prejudice to the indemnity claim, damages for alleged misrepresentation, breach of warranty of authority, fraud, negligence, and conspiracy.

It is unclear whether the motion indicates an intention by IBRC to move against any assets acquired by Mr Quinn since he exited bankruptcy last January. Any judgment is also contingent on the family winning their case.

Laurence Brennan, solicitor for Mr Quinn, said in court yesterday that the motion was a serious matter for his client.