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| Belfast High Court challenge to Sean Quinn bankruptcy | |
| (about 6 hours later) | |
| A challenge to the bankruptcy of Fermanagh businessman Sean Quinn will be heard at the High Court later. | A challenge to the bankruptcy of Fermanagh businessman Sean Quinn will be heard at the High Court later. |
| The former Anglo Irish bank, which says it is owed 2.8bn euros (£2.4bn) by Mr Quinn, has challenged his decision to file for bankruptcy in Northern Ireland. | The former Anglo Irish bank, which says it is owed 2.8bn euros (£2.4bn) by Mr Quinn, has challenged his decision to file for bankruptcy in Northern Ireland. |
| He was granted a voluntary adjudication over the alleged debt in November. | He was granted a voluntary adjudication over the alleged debt in November. |
| It is believed to be one of the biggest bankruptcy orders of its kind ever made in the United Kingdom or Ireland. | It is believed to be one of the biggest bankruptcy orders of its kind ever made in the United Kingdom or Ireland. |
| Mr Quinn, 63, was stripped of control of his manufacturing and insurance business empire in April. | Mr Quinn, 63, was stripped of control of his manufacturing and insurance business empire in April. |
| He and his family are engaged in a legal battle with the bank. | He and his family are engaged in a legal battle with the bank. |
| Mr Quinn was reputedly worth 4.72bn euros (£3.7bn) at the height of his success. | Mr Quinn was reputedly worth 4.72bn euros (£3.7bn) at the height of his success. |
| He said he brought the application north of the border because he was born, reared and worked all his life in County Fermanagh. | He said he brought the application north of the border because he was born, reared and worked all his life in County Fermanagh. |
| But by declaring himself bankrupt in Northern Ireland it also means he only has to wait a year before going back into business - rather than 12 years in the Republic. | But by declaring himself bankrupt in Northern Ireland it also means he only has to wait a year before going back into business - rather than 12 years in the Republic. |
| Irish Bank Resolution Corporation (IBRC) - the new name for Anglo Irish Bank - disputed Mr Quinn's claim that he is resident in Northern Ireland. | Irish Bank Resolution Corporation (IBRC) - the new name for Anglo Irish Bank - disputed Mr Quinn's claim that he is resident in Northern Ireland. |
| The hearing is expected to last for two days. | The hearing is expected to last for two days. |