Court orders Quinn to pay IBRC €144m in damages

Peter Darragh Quinn, who last year fled the jurisdiction having been found in contempt of court, has been ordered to pay IBRC damages of €144m.

The nephew of bankrupt businessman Sean Quinn has been described in court as playing a pivotal role in a scheme to put Quinn assets beyond the reach of the bank.

Peter Darragh Quinn tried but failed to halt IBRC's bid for damages in a letter to the court arguing that he would suffer a "grave injustice" if the case proceeded.

But Mr Justice Peter Kelly ruled it was too late as judgment has already been entered against him for asset stripping Quinn companies.

He's been ordered to pay $188m (€144m) damages to the bank - that represents the value and loss to IBRC of one major Quinn asset - the Kutuzoff tower in Moscow as a result of his "wrongful actions".

The Fermanagh businessman was not in court - he is still in contempt and faces a three months jail sentence if he enters the jursidiction.