The Quinn family has denied it is hiding up to €500 million in undisclosed assets from the Irish Bank Resolution Corporation.
In a statement this afternoon, the family described allegations that it may be hiding €300 million in gold and €200 million in cash as “absolute scurrilous lies” and said it denied them “in the strongest possible terms.”
It said the revelations by the IBRC in the Commercial Court yesterday were based on “illegally obtained information” from unidentified informants, one of whom was previously charged but acquitted of a criminal offence, and marked a new low in the litigation.
“We are simply astonished that a state controlled entity would be a party to such ethically and legally questionable actions,” the statement added.
The family said the bank has "been led on a wild goose chase by individuals who do not even have the decency to make themselves known to the Courts and in the process are now a party to completely groundless allegations against an International Bank, an International Finance Banker, an Indian Businessman and also a close friend of the Quinn family, all of whom have absolutely no involvement whatsoever in these matters."
The family said it had disclosed the full extent of its assets to the Court.