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Ireland's former richest man Sean Quinn to find out if he faces jail Ireland's former richest man Sean Quinn to find out if he faces jail
(about 1 month later)
Ireland's one-time richest man Sean Quinn is in court where he will find out if a state-owned bank wants him jailed.Ireland's one-time richest man Sean Quinn is in court where he will find out if a state-owned bank wants him jailed.
The former billionaire's son, Sean Junior, will also hear how the Irish Bank Resolution Corporation (IBRC) wants the courts to deal with him.The former billionaire's son, Sean Junior, will also hear how the Irish Bank Resolution Corporation (IBRC) wants the courts to deal with him.
Earlier in the summer both father and son, along with Sean Quinn's nephew Peter Darragh Quinn, were found guilty of contempt of court for moving assets which the IBRC wanted to seize out of the state.Earlier in the summer both father and son, along with Sean Quinn's nephew Peter Darragh Quinn, were found guilty of contempt of court for moving assets which the IBRC wanted to seize out of the state.
Sean Quinn Junior was jailed for three months while his cousin fled to Northern Ireland where he remains and cannot be extradited back to Dublin.Sean Quinn Junior was jailed for three months while his cousin fled to Northern Ireland where he remains and cannot be extradited back to Dublin.
The judge in the case back in June adjourned the punishment for Sean Quinn Senior. The Quinn family has admitted it put millions worth of property and other assets beyond the reach of the former Anglo Irish Bank, which is now owned by the taxpayer.The judge in the case back in June adjourned the punishment for Sean Quinn Senior. The Quinn family has admitted it put millions worth of property and other assets beyond the reach of the former Anglo Irish Bank, which is now owned by the taxpayer.
The bank says it has security over the assets and that the family owes it €2.8bn (£2.3bn). The family is alleging the bulk of the loans are tainted with illegality as they are linked to a share support scheme for Anglo Irish Bank.The bank says it has security over the assets and that the family owes it €2.8bn (£2.3bn). The family is alleging the bulk of the loans are tainted with illegality as they are linked to a share support scheme for Anglo Irish Bank.
The case centres on hundreds of millions of euros the Quinn family borrowed from Anglo Irish Bank to fund a global property portfolio.The case centres on hundreds of millions of euros the Quinn family borrowed from Anglo Irish Bank to fund a global property portfolio.
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