THE IRISH Bank Resolution Corporation is seeking to have Seán Quinn’s five children put in the witness box so they can be cross-examined about their personal finances.
The State-owned bank is also seeking to have his son’s wife, Karen Woods, and his two sons-in-law, Niall McPartland and Stephen Kelly, quizzed also.
The bank believes the asset-stripping scheme implemented by the family is for the benefit of Quinn’s children and grandchildren, and that the children and their partners have not fully complied with court orders made prior to the summer to disclose all assets and bank accounts in which they have an interest.
They have also been ordered to disclose all documents they possess in relation to the asset-stripping scheme.
Because it does not believe they have fully complied with the order, the bank is asking that Ciara, Colette, Seán junior, Brenda and Aoife Quinn be subjected to a cross-examination by the bank, as well as the three spouses.
The request is due to be heard on November 29th.
It is the latest twist in the gathering pressure on the family arising from its plan to put a valuable international property group beyond the bank’s reach.
In two affidavits to different sittings of the High Court last week, IBRC executive Richard Woodhouse repeatedly accused the Quinns of fraud. Under the Criminal Justice Act 2010, the bank is obliged to report suspected criminal offences to the Garda.
Mr Woodhouse also made allegations of fraud in relation to debts linked to the properties, which the bank believes occurred in Northern Ireland and involved Quinn companies based there.
IBRC, which operates in Northern Ireland, would report instances of suspected criminal offences there to the Police Service of Northern Ireland.
Court hearing
On Thursday the High Court is to hear an application from Declan Taite of accountancy firm RSM Farrell Grant Sparks, who has been appointed as a personal receiver over the assets of the Quinn family members.
The court will be asked if Mr Taite can disclose to IBRC wide-ranging information about the family members’ assets and financial and tax affairs, including their personal email accounts and passwords and phones or any devices on which information about assets may be stored.
Last week the court was told the bank, having despaired of getting co-operation from the family, was going to enter into an arrangement with one of the largest privately owned conglomerates in Russia to help recover the assets the Quinns have sought to seize.
A1, the asset recovery arm of the Alfa Group, will seek not just to establish control over Russian and Ukrainian properties with a value of up to $500 million, but it will also seek to gain control of large cash balances and to have certain payments to Quinn family members and other parties reversed.
