Sean Quinn jnr has finally purged his contempt of court – after a businessman gave him a loan secured on his half-share of the Dublin home owned by Mr Quinn and his pregnant wife Karen Woods.
The High Court in Dublin ruled that a €210,000 (£174,000) payment by Sean Quinn jnr, raised by himself and his wife through a charge on their home, had finally purged his contempt of court orders.
Ms Justice Elizabeth Dunne said she was "grateful" that the contempt matter, ongoing since June 2012 when she made a finding of contempt against Mr Quinn – son of former Irish billionaire Sean Quinn – was finally at an end.
She made the remarks after accepting an undertaking by Larry Brennan, solicitor for Mr Quinn, to pay the sum of €210,000 to solicitors for Quinn Properties Sweden, a company now controlled by receivers appointed by Irish Bank Resolution Corporation (IBRC), to finally purge his client's contempt.
The €210,000 had been lodged by Mr Quinn in his solicitor's client account, the court heard.
The judge said she was satisfied that the undertaking by Mr Brennan to pay out the monies to Dillon Eustace, solicitors for Quinn Properties Sweden, "resolves every aspect of the matter" as far as Mr Quinn was concerned.