Published Monday, 28 November 2011
The 64-year-old tycoon - who was once said to be Ireland's richest man - has been hit with two separate judgements of €1.74bn and €416m over loans from the now nationalised lender.
Management at the Irish Bank Resolution Corporation (IBRC) has vowed to pursue Mr Quinn for the full amount, even though he filed for bankruptcy in Belfast.
Mr Quinn did not attend the proceedings on Monday, however a statement said: "Today's action by Anglo Irish Bank (Anglo) in my view is totally pointless, self-serving and vindictive.
"In no way does it improve the Bank's prospects of recovering money for the taxpayer.
"I have absolutely no doubt that maximising recovery is not Anglo's first priority, due to their actions over the last couple of years."
Mr Quinn declared himself bankrupt at Belfast High Court after admitting debts of €200m - the biggest personal bankruptcy in Irish history.
However the bank is challenging this after the application was made in NI, rather than the Republic, where the former cement, insurance, hotels and industrial magnate lives.
He has been disqualified from owning a business for 12 months - however, if he declared in the Republic, he would have been disqualified for 12 years.
His statement continued: "It is becoming all the more apparent, that there is absolutely no regard for the wasting of public funds to pursue pointless legal appeals which is of no possible financial benefit.
"It is clear that the motivation for this appeal is to ensure that I could never possibly create another single job again in my lifetime, as they may feel that this would be a PR embarrassment that they could not afford."
Mike Aynsley, chief executive of the IBRC, said the bank is committed to challenging Mr Quinn's application north of the border.
He said: "Mr Quinn gave the bank guarantees and indemnities in respect of extensive borrowings which benefited Quinn companies and Quinn family members.
"Today's Commercial Court judgement gives clear, unambiguous recognition to the legal obligations of Mr Quinn in relation to these guarantees and that is welcomed today by IBRC.
"Given the massive cost to the Irish people in preventing this bank from collapse, it is imperative that we seek to recover as much of this debt as feasible for the Irish taxpayer."
The case goes to a full two-day hearing starting on 19 December in the High Court in Belfast.
Mr Quinn is expected to attend in case a judge calls on him to clarify his bankruptcy application.
He says he only has €11,000 in the bank.
His statement adds: "I am greatly saddened that the State, which I always supported through creating jobs and generating revenues, is now bent on destroying the jobs created.
"I would ask that commentators reserve judgement until all facts are considered by the Courts and would hope that there are no further attempts at political interference in ongoing legal disputes."
© UTV News