Bankrupt rich man avoiding jail
The Irish supreme court is hearing an appeal from the bankrupt billionaire and his family which would prevent him being imprisoned. Last month the Dublin high court found him guilty of contempt after he failed to comply with court orders in relation to action taken against him by the now-nationalised Anglo Irish Bank.
He was accused of concealing €500m (£390m) from the bank which loaned him billions in order to build a global empire that stretched all the way to Ukraine and the Gulf.
The supreme court judge Elizabeth Dunne is considering the request, but even if she grants leave to appeal, it may not alter her decision on punitive measures.
The high court in Dublin has already found Quinn, his son Sean Jr and nephew Peter Daragh Quinn in contempt. An appeal to the supreme court can take years, though in a high-profile case such as this it would be fast-tracked. Dunne could grant leave while still sending the three to prison.
The high court found that the Quinns put almost €500m worth of assets beyond the reach of the former Anglo Irish Bank. Anglo was bailed out by Irish taxpayers and is now controlled by the Irish Banking Resolution Company (IBRC). The IBRC’s function is to recover assets on behalf of taxpayers and, in total, it claims it is owed around €2bn by the Quinns. – Guardian.uk