Northern Ireland

Judge needs more information to sanction Sean Quinn's families living expenses

Sean Quinn
Image caption Sean Quinn's family have been in court in Dublin to have their living expenses sanctioned

A High Court judge in Dublin has said he will require a lot more information before sanctioning living expenses for members of the family of bankrupt billionaire Sean Quinn.

They had previously been awarded living expenses of 2,000 euros per week each.

Mr Justice Peter Kelly was shown a schedule of expenses sought by members of the Quinn family on Tuesday.

Expenses were not being sought for Mr Quinn's nephew, Peter Darragh Quinn, who faces jail for contempt of court.

His whereabouts are unknown since he failed to turn up for a court sentencing appearance on Friday.

The Irish Bank Resolution Corporation (IBRC), formerly Anglo Irish Bank, wants freezing orders against accounts belonging to Sean Quinn's children and two sons-in-law to remain in place.

It also wants to appoint receivers to their assets.

Details

The court heard the Quinns would be consenting to the orders sought by the bank.

The family have submitted a sworn document outlining their expenses.

Mr Justice Kelly said he would require a lot more information than what was contained in the document before sanctioning the expenses.

Solicitors for Peter Darragh Quinn have not had any contact with him since the early hours of Friday morning and the court heard they would be applying for permission to stop representing him.

The court also heard details of money paid to members of the Quinn family and to their partners since April 2011.

Senior counsel for IBRC Paul Gallagher said the family had received payments which they claimed were salaries for work allegedly done for Russian companies since April 2011.

These ranged from 260,000 euros to Aoife Quinn's husband, Stephen Kelly to almost 475,000 euros to Peter Darragh Quinn.

Sean Quinn Jnr's wife Karen Woods received more than 320,000 euros. Mr Quinn's daughters, Colette and Ciara, each received more than 300,000 euros.

The bank said there was no explanation as to what had been done with this money.

The court also heard that the IBRC was querying the transfer of 100,000 shares in subsidiaries of the Quinn's international property company Quinn Investments Sweden to a woman called Noreen Mary Maguire for 10 euros.

The bank said it does not know who Ms Maguire is.

Image caption An arrest warrant has been issued for Peter Darragh Quinn, a nephew of the former billionaire Sean Quinn

The IBRC is seeking disclosure orders against a number of offshore companies.

The case will continue on Wednesday.

Co-operation

Meanwhile, former billionaire Sean Quinn told the BBC on Tuesday that he would trade places with his son, who is serving a jail sentence for hiding millions from a bank owed £2bn.

Mr Quinn avoided jail for contempt of court on Friday, but was told he must co-operate within three months with the Irish Bank Resolution Corporation, formerly Anglo Irish Bank.

His son, Sean Jnr, and Peter Darragh Quinn were sentenced to prison.

Both men were sentenced to prison until the purging of their contempt of court, which arose when they breached an order not to put 500m euros of overseas property assets beyond the reach of the bank.

Sean Quinn Jnr began his sentence immediately and will serve out the remainder in the training unit of Mountjoy prison, a semi-open low security facility.

A warrant was issued for Peter Darragh Quinn's arrest after he failed to appear for sentencing.

The Irish state bailed out the Anglo Irish Bank when it failed and the IBRC's function is now to recover money for the Irish taxpayer.

The bank is owed £2bn by Sean Quinn and sought to recover some of that from property owned by him in Russia and Ukraine.

However, the bank found itself locked out of the company that controlled the Quinn property portfolio and found that the money and ownership was disappearing into a network of companies across the world.

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