Quinn family closer to avoiding liability for Anglo loans
Seán Quinn’s wife, Patricia, and their five children are one step closer to avoiding liability for loans worth up to €2.34bn (£2bn), the Irish Times has reported.
According to the newspaper, the Irish Commercial Court ruled yesterday that the family has a right to argue that up to €1.8bn of these loans were “unlawful”.
Mr Justice Charleton confirmed that they could advance these claims if they can prove the loans in question were made by the former Anglo Irish Bank, now Irish Bank Resolution Corporation (IBRC), to various Quinn companies for the purposes of supporting the bank’s share price.
This “wholesale” market manipulation would constitute a breach
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