Belfast Telegraph

Sean Quinn's son allowed an extra £44k to cover living expenses

By Tim Healy

Sean Quinn Jnr and his wife Karen Woods have been allowed to borrow an additional €50,000 (£44,186) to cover their living expenses for the year, a court has heard.

Mr Justice Robert Haughton was told Irish taxpayer-owned IBRC had reached an agreement with Sean Quinn Jr and his wife concerning payment of living expenses, legal fees and for sale of two Dublin properties.

The court was previously told the couple, who have three children, are not in paid work and get living expenses, totalling some €100,000 (£88,384) annually, from accounts controlled by receivers appointed over their assets.

Mr Quinn Jnr, the court heard, has been working unpaid since summer 2017 as part-time CEO of his father's business, QuinnBet, because it was a start up with insufficient funds to pay a salary.

The expenses applications by the couple arose in the context of orders made by Dublin's High Court in 2012 freezing accounts and assets of various members of the Quinn family.

On Tuesday, Mr Justice Haughton was told the expenses and sale applications were not proceeding as the sides had agreed on various orders, including for sale of two properties.

The sale proceeds will be lodged to an account to be used for payment of the couple's living expenses.

Other orders permit the couple enter an agreement with the mortgagee of a property at Alder Lodge, Farmleigh Woods, Castleknock, aimed at extending the period of a loan of €210,000 granted by the mortgagee.

Belfast Telegraph

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