Receiver appointed to company in Quinn case
A receiver has been appointed to a British Virgin Island-based company as part of a legal battle between Sean Quinn and Anglo Irish Bank (now the Irish Bank Resolution Corporation or IBRC).
IBRC claims that it is owed €2bn by the 65-year-old businessman.
Lawyers for IBRC secured the appointment of the receiver amid fears that assets it is seeking to recover could be put beyond its reach.
It means Lyndhurst Development Trading, a major creditor of a Ukrainian shopping centre linked to the Quinn family, will be unable to transfer on any debts.
Four companies, including Lyndhurst, are covered by the prohibitions, along with one company in Belize and two others in Co Fermanagh - Demesne Investments and Innishmore Consultancy.
The matter will now move on to a hearing in March in relation to property ventures in Russia and Ukraine.
