The judge presiding over the Commercial Court has said the Quinn family had operated a scheme of mesmeric complexity that reeked of dishonesty and sharp practice.
Mr Justice Peter Kelly said he regrettably had to deal more and more often with fraud on a national and international level, as well as sharp practice, dishonesty and chicanery.
But he said he had never seen such conduct on the scale demonstrated by Seán Quinn and his family or the deviousness with which the scheme to put assets beyond the reach of IBRC had operated.
The judge made his comments in a ruling to extend orders freezing the assets of the Quinn children and two sons-in-law, Stephen Kelly and Niall McPartland.
He said since he granted the freezing orders originally, one of the defendants had been sent to jail and the other was a fugitive from justice.
There had also been evidence of Peter Darragh Quinn's willingness to lie under oath to a court in a video footage put before the court.
Mr Justice Kelly said there was also evidence of the payment of extraordinary sums of money totalling almost €2.8m paid to a number of defendants.
He said the defendants had chosen not to put in any replying affidavits to allegations made by the bank, despite ample opportunity to do so. Thus he had no denial, refutation or explanation from them.
The judge said the court could not make any findings at this stage, but he said all the evidence pointed one way.
Mr Justice Kelly also said courts on occasion have to take drastic action to prevent their orders from being evaded.
He said he regretted having to make these comments, but in light of the evidence before him he did not want anyone to be under any misapprehension about the seriousness of the orders or in any doubt about the will of the court to take action to fully protect its orders.
The judge said he expected the receiver to get full and total cooperation, as well as full and total disclosure of all the documentation sought by the bank.
Receivers appointed to assets
Mr Justice Kelly also appointed receivers to the assets of the Quinn children, Mr Kelly and Mr McPartland, with the exception of certain bank accounts, some future earnings and family homes.
He granted disclosure orders sought against them, Seán Quinn Snr and a number of companies.
The judge also froze the assets of Seán Quinn Jnr's wife, Karen Woods, who the court heard has received more than €320,000 from Russian companies since April last year.
He will hear applications next Tuesday by the Quinn children for living expenses, as well as an application by lawyers for Peter Darragh Quinn to be allowed to stop representing him.
The Quinn children had each been previously granted living expenses of €2,000 a week.
Earlier, senior counsel for the IBRC Paul Gallagher said the bank was still concerned that it did not know what had happened to €2.8m paid to members of the Quinn family and their partners by Russian companies since April last year.
The Quinns' senior counsel, Bill Shipsey, said his clients were consenting to very extensive disclosure orders and they would have to disclose all their assets and accounts.
