Sean Quinn could not afford to defend the case; dubs judgement ‘vindictive’

Quinn Insurance founder Sean Quinn has been ordered to repay almost €1.7bn (£1.45bn) to Anglo Irish Bank.

Quinn is bankrupt and could not afford to defend the case. He has accused the bank of pursuing a “personal vendetta,” and said the judgement was “totally pointless, self-serving and vindictive.”

Quinn now owes the bank more than €2bn (£1.71bn), because last week he was ordered to repay more than €416m (£356.5m) to the bank, now known as the Irish Bank Resolution Corporation (IBRC), according to the Irish Independent.

However, the Quinn family are suing the bank over some of the loans it granted.

Earlier this month Quinn filed for bankruptcy in Belfast. IBRC is contesting the new filing. Northern Ireland bankruptcies can expire in one year, compared to 12 years in the Republic.

 

 

 

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