Quinn: Court judgement 'self-serving and vindictive'

The former Anglo Irish Bank's bid to secure €1.6bn from Sean Quinn has been branded "totally pointless, self-serving and vindictive" by the businessman.

The former Anglo Irish Bank's bid to secure €1.6bn from Sean Quinn has been branded "totally pointless, self-serving and vindictive" by the businessman.

Anglo, which is now Irish Bank Resolution Corporation, secured summary judgment orders on debts arising from personal guarantees on loans given to the Quinn Group.

In a statement this evening, Sean Quinn said that he is disappointed by the €1.6bn judgment marked against him.

He called it totally pointless, self-serving and vindictive and said that in no way does it improve the Irish Bank Resolution Corporation's prospects of recovering money for the taxpayer.

That is not the view of IBRC, however. In its statement, CEO Mike Aynsley said: "Given the massive cost to the Irish people in preventing the bank from collapse, it's imperative that we seek to recover as much of this debt as feasible for the Irish taxpayer."

The problem for the bank is that Sean Quinn has been declared a bankrupt in the North, but IBRC is legally challenging that decision by arguing that Mr Quinn's personal and business interests are centred in the Republic.

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