Belfast Telegraph

Bank hasn't told court why Sean Quinn jnr is in jail, appeal hears

By TIm Healy

The former Anglo Irish Bank has failed to tell the Irish Supreme Court exactly what Sean Quinn jnr is being held in prison for, his lawyers have claimed.

Anglo, now the Irish Bank Resolution Corporation (IBRC), has conceded there was “no direct evidence” to support a finding of contempt against him, Mr Quinn's lawyer Bill Shipsey also argued.

While just one finding of contempt was made against Mr Quinn, he was jailed for not reversing an entire asset-stripping scheme, Mr Shipsey said.

Paul Gallagher, counsel for the bank, contended “a chain of events” and 30 pieces of circumstantial evidence supported the Dublin High Court's finding that Mr Quinn participated in a $500,000 (£300,000) payment, on foot of which he was found in contempt.

The High Court was also entitled to jail him on July 20 after finding he had not complied with 30 coercive orders to reverse asset-stripping measures on grounds including that he was part of the Quinns' general asset stripping conspiracy, counsel said.

This was an “exceptional” case unlikely to be replicated and the courts must uphold constitutional values, Mr Gallagher urged.

The five-judge Supreme Court yesterday reserved to an unspecified date its judgment on Mr Quinn's appeal against being jailed following its finding of contempt and that he had not complied with 30 coercive orders to unwind measures to strip up to $430m (£270m) assets from the Quinn family's international property group.

In June, Ms Justice Elizabeth Dunne ruled he was in contempt of court orders of 2011 restraining stripping of assets.

The matter is for review on October 19.

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