Sean Quinn fails to lift bank freeze

Published Tuesday, 06 August 2013
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Bankrupt former billionaire Sean Quinn has lost an application to lift orders freezing his family's accounts below €50m.

Sean Quinn fails to lift bank freeze
Former business tycoon Sean Quinn. (© Pacemaker)

A ruling was made in favour of liquidators for the former Anglo Irish Bank at the High Court in Dublin on Tuesday.

Judge Michael Peart dismissed the Quinn's bid to lift the orders - which had been granted to the Irish Bank Resolution Corporation (IBRC) in 2012 - and which restrained the family from dealing with assets of a number of Quinn companies.

He was satisfied that the "balance of convenience" remains in favour of keeping the orders.

However the judge did direct that the bank lodge €5m as security against the damages claim by the family, if the bank loses.

© UTV News
Comments Comments
Steve in Belfast in Ireland. wrote (439 days ago):
More news from our Capital. Well done UTV for keeping us up to date on what's happening in our islands Capital. I will be travelling to the city next weekend, i hear the bus strike is finished. Some good news for me and our Capital.
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