Northern Ireland

Sean Quinn declared bankrupt in Republic of Ireland

Sean Quinn
Image caption Sean Quinn accused IBRC of pursuing a 'vendetta' against his family

Fermanagh businessman Sean Quinn has been declared bankrupt in the Republic of Ireland.

The High Court in Dublin heard the bankruptcy application made by the former Anglo Irish Bank. It was not opposed by Mr Quinn.

Last week, the bank, now Irish Bank Resolution Corporation (IBRC) succeeded in having Mr Quinn's bankruptcy status in Northern Ireland annulled.

The Republic of Ireland has a more onerous bankruptcy regime than the UK.

Dublin Judge Elizabeth Dunn advised that Mr Quinn, 65, make himself available to be served the bankruptcy documents.

Speaking afterwards, Gavin Simons, solicitor for Mr Quinn confirmed his client would be making himself available to the official assignee Chris Lehane, to be served with the bankruptcy documents at a time that suits both parties.

He also said that Mr Quinn was not in court because he was not opposing the application.

Vendetta

Mr Quinn also released a statement on Monday afternoon in which he accused IBRC of pursuing a "vendetta" against him and his family.

"Given the expense incurred by Anglo in having my Northern Ireland bankruptcy overturned and the fact that today's judgement in no way improves Anglo's prospects of recovering money for the taxpayer, their actions clearly prove that it is a personal vendetta," he said.

"The position of the Irish taxpayer could have improved significantly, by a more reasonable approach to the issues involved."

In response, the IBRC issued a statement in which it said that it was "not true" that it was pursuing a vendetta against Mr Quinn.

"The Bank's singular focus is to recover as much as possible from the remaining assets over which the Bank has legal security," it said.

"It is this singular focus that is in the best interests of the State."

Mr Quinn, once Ireland's richest man, lost control of his empire last year. The IBRC appointed a receiver over a £2bn debt.

In the High Court in Northern Ireland last week, the IBRC argued that Mr Quinn was based in the Republic of Ireland.

Mr Justice Deeny found in favour of the bank, annulling the bankruptcy.

He found that a lease for an office in Derrylin, County Fermanagh, had been drawn up to "bolster" Mr Quinn's claim and that his centre of interest prior to bankruptcy was, in fact, in the Republic of Ireland between his home in County Cavan, offices in Belturbet and advisors' offices in Dublin.

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