Dpp seeks to have quinn familys big case pushed back

Published: Wed 3 Jun 2015, 1:01 PM

Last updated: Wed 3 Jun 2015, 2:10 PM

The Director of Public Prosecutions has applied to the High Court to have the Quinn family's locally called 'big case' against Irish Bank Resolution Corporation put back pending the outcome of the rescheduled trial of former Anglo Irish Bank chairman Sean Fitzpatrick.

The long running civil case came before the High Court this morning but the application for a postponement has been adjourned until 2.15pm to allow the DPP to provide more information.

Sean Quinn's family claims €2.34bn loans by Anglo Irish Bank to various Quinn companies were made for the unlawful purpose of propping up the share price.

The action, which was initiated four years ago, is being taken by Mrs Patricia Quinn and her five adult children.

Legal argument in the case is expected to take at least two weeks before the first witness, Sean Quinn Snr, will be called.

Last month, a judge ruled that the Quinns could not pursue the part of their claim alleging the loans were unenforceable.

Paul Anthony McDermott, SC for the DPP, told the High Court the DPP was seeking a stay on proceedings pending the outcome of the trial of Mr FitzPatrick, which has been put back to October 5.

He said they were dealing with a mosaic of criminal and civil trials along with the Oireachtas banking inquiry and when one piece was shifted, it had an effect on the others.

Martin Hayden, SC for the Quinns, said they were extremely disappointed with the application.

Paul Gallagher, SC for IBRC, said they were anxious to proceed and were concerned with the length of a possible adjournment.

However, he also had concerns about the cases overlapping and he raised the issue of the scheduling of another trial expected in January 2016.

The bank has accused members of the Quinn family of conspiring to put their €500m overseas property portfolio beyond the bank’s reach.

Meanwhile, talks with IBRC’s liquidator in a move which could see both actions dropped, are understood to be ongoing, a situation stalled because over the controversy caused by IBRC’s write down of debt on the Siteserv deal.