Quinn family: Offer for damages 'worthless'

The Quinn family has told the High Court that any offer for damages by the former Anglo Irish Bank is 'worthless' because it is insolvent.

IBRC has offered to ring fence an amount of damages up to €5m ahead of the hearing of the full Quinn case.

But the children of Sean Quinn Snr said that there are no safeguards if they win their counter-claim against the bank.

Lawyers for the Quinns have told the Court if IBRC had any faith in its case it would offer a 'meaningful' undertaking in damages.