Son in law of Quinn family doesn't have 'active policy' of keeping documents30/01/2013 - 16:44:45
A son in law of bankrupt businessman Sean Quinn has told the Commercial Court he doesn't have an active policy of keeping documents.
Under cross examination by lawyers for IBRC, Stephen Kelly said he had nothing to show how he spent his €260,000 salary from Russian companies in the Quinn's property group.
IBRC's lawyers say it is extraordinary and unbelievable that Stephen Kelly has kept a lot of commercial documents but has nothing relating to his salary.
The businessman, who is married to Aoife Quinn, has said he is undertaken to get statements from his Moscow account with Ocean bank where the money was paid into but agrees he has nothing to show how he spent his salary of over a quarter of a million euros.
He says some of his wages would have gone towards legal fees.
IBRC alleges the Quinns have failed to disclose all relevant documents relating to their bank accounts and assets in their International property empire.
Disclosure orders were put in place after attempts were made to put these property assets beyond the bank's reach.