Bloomberg News

Sean Quinn Senior Wants to Purge Contempt as Son to be Freed

October 19, 2012

Bankrupt Irish businessman Sean Quinn, once the country’s richest man, wants to purge his contempt of court, his lawyer said today, as a hearing into the matter was adjourned for two weeks.

Quinn wants to be co-operative and constructive,lawyer Eugene Grant said in a Dublin court, adding that his client had had two heart procedures.

Quinn, his son Sean and nephew Peter Quinn placed assets outside the reach of the nationalized lender, now known as Irish Bank Resolution Corp., after a court ordered them to stop last year, High Court Judge Elizabeth Dunne said on June 26. At that time, she issued sentences to the other two men, while reprieving Quinn to see what steps the former cement-to- insurance tycoon could take to resolve the situation.

“Nothing has been done to reinstate the property that has been taken from the various companies,” Paul Gallagher, a lawyer for IBRC, said in court today.

Judge Dunne adjourned the hearing to allow Quinn’s new lawyers to brief themselves and prepare a response to new claims put forward by the bank, some of which she said were “disturbing.” Sean Quinn Junior will be released after his three months has been served, and Peter Quinn once again failed to appear in court.

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Dara Doyle at ddoyle1@bloomberg.net


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