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Quinn nephew is declared bankrupt
19 Sep 2014 16:04
A nephew of ex-tycoon businessman Seán Quinn has been declared bankrupt over alleged debts of $188m (€146m), it emerged today.
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The joint liquidators of the Irish Bank Resolution Corporation obtained the order against Peter Darragh Quinn at the High Court in Belfast.
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He is the second member of the family to be made bankrupt after the same outcome was secured against his uncle, former billionaire Seán Quinn.
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Peter Quinn, with an address at Sessiagh East, Innishmore, Lisbellaw, Co Fermanagh, is currently facing arrest if he returns to the Republic.
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In July 2012, the High Court in Dublin ruled he, Seán Quinn and his son Seán Quinn Jr in contempt of an order not to seek to put their property empire beyond the bank's reach.
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The Quinn family have been embroiled in a high-profile legal battle with IBRC, formerly Anglo Irish Bank.
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The bank launched action over claims the Quinn family owes it more than €2bn.
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Seán Quinn, once Ireland's richest man, served a nine-week prison term for contempt, while his son was sent to jail for three months.
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But when Peter Quinn did not show up for sentencing, a warrant for his arrest was issued.
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He has remained in Northern Ireland, outside the Dublin court's jurisdiction.
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By securing the bankruptcy adjudication against him in Belfast on 8 September, IBRC can now go after any assets held by Peter Quinn.
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