The High Court has refused applications by bankrupt businessman Sean Quinn and eight of his family members to discharge injunctions restraining all or any of them from dealing with assets of a number of Quinn companies.
Mr Justice Michael Peart said yesterday that the balance of justice favoured leaving all of the injunctions in place. The injunctions freeze family and company bank accounts.
The judge ordered the Irish Bank Resolution Corporation, in what is known as the Quinn conspiracy to put assets beyond the reach of the bank, to lodge E5 million in court to “fortify” undertakings IBRC had given to the court as to damages prior to the bank having been liquidated. The Irish Times