Quinn daughter asked about ATM withdrawals

Wednesday 30 January 2013 12.17
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Ciara Quinn told the Commercial Court that she has no documents concerning certain withdrawals
Ciara Quinn told the Commercial Court that she has no documents concerning certain withdrawals
Colette Quinn said she has disclosed all relevant documents and has no documents related to her legal or beneficial ownership of some 20% of various companies
Colette Quinn said she has disclosed all relevant documents and has no documents related to her legal or beneficial ownership of some 20% of various companies

A daughter of bankrupt businessman Seán Quinn withdrew almost €340,000 from her Russian bank account from ATMs in Ireland over a year up to summer 2012 with most of it going to pay legal fees.

Ciara Quinn told the Commercial Court that she has no documents concerning those withdrawals.

Ms Quinn was also asked about an "extraordinary" series of withdrawals totalling €5,000 from her Ocean Bank account in Moscow, made via ATMs in Blanchardstown, Dublin, on 25 May 2012.

Shane Murphy SC, for Irish Bank Resolution Corporation, asked about the purpose of seven withdrawals that took place over a 20-minute period.

Lawyers for the Quinns objected to the questions, as it strayed into issues to be addressed in the full hearing of the legal action by IBRC, formerly Anglo Irish Bank, against various Quinn family members and others alleging stripping of assets from the Quinns' International Property Group (IPG).

Ms Quinn said she was concerned, as the bank had alleged contempt against her, about answering some questions.

Mr Murphy cross-examined Ciara and Brenda Quinn about claims they and other Quinn family members have not fully disclosed all information relating to their assets, accounts and involvement with companies in the IPG.

The Quinns insist they have disclosed all relevant documents.

Mr Justice Peter Kelly granted an application by Paul Anthony McDermott for the DPP, to stay the full hearing of the bank's action that may touch on issues to be addressed in forthcoming criminal proceedings against former Anglo chairman Seán FitzPatrick and two former senior executives of the bank.

Those issues included alleged breaches of Section 60 of the Companies Act making it unlawful for a financial institution to loan money to buy its shares.

Various preliminary matters in the bank's case, including cross-examination of the Quinns, may continue in the interim.

Ciara Quinn said she has no invoices from lawyers and no documents showing how she spent €340,000 paid into her Ocean bank account in Moscow under her employment contract with Russian companies between July 2011 and August 2012.

She had no copies of that contract and had never had copies of any her employment contracts.

Ciara Quinn agreed an affidavit sworn by her in August 2012 referred to funds of €116,011 held on account with her former lawyers Eversheds; funds of €163,437 held by Senat Legal, based in Dubai, and also noted other funds were being transferred from Senat to Eversheds to pay court fees.

She believed those figures were provided by Eversheds.

Eversheds have documents belonging to her, she added.

She said she believed she has a 20% interest in several companies, but had no documents related to those.

One of those companies, Cranre Property Services Management Ireland, was paying mobile phone bills totalling up to €3,000 monthly for herself and five others, public relations bills of some €5,250 bi-monthly to James Morrissey and bills related to an office premises used by the family in Dublin.

She rejected suggestions she had had more than a "passive" involvement with IPG companies and said "zero money" from IPG assets went into bank accounts of her children.

As a company director, she had voted, with her sisters Aoife and Colette, to sell shares in Russian IPG companies at a meeting in April 2011.

They had no documents when doing so, she said.

The court heard she travelled to Moscow with other members of her family in July 2011 to open accounts with Ocean bank and that the trip was paid for by a Russian IPG company.

Brenda Quinn said she travelled in Australia for a period, but returned in February 2012 after which she became more involved helping her family in relation to their legal action against the bank.

She was not aware why a copy of the front page of her passport was sent by her brother to Russia and had no documents related to why, in February 2012, he was seeking a year-long Russian visa for her "as soon as possible".

She was given a document sometime in March 2012 informing her she had been granted a double entry visa to Russia.

Colette Quinn said she has disclosed all relevant documents and has no documents related to her legal or beneficial ownership of some 20% of various companies.

She said she owned many Quinn companies over the years and never knew their ownership structure either.

Colette Quinn said she had no documents concerning payments to her from Russian companies.