Former billionaire Seán Quinn, who was declared bankrupt by the High Court today, has accused the Irish Bank Resolution Corporation of pursuing a vendetta against him and his family.
However the bank described Mr Quinn's comments as "disappointing" - it said its only focus was to recover as much as possible from the remaining assets over which the Bank has legal security in the best interests of the State.
IBRC, formerly Anglo Irish Bank, brought the application to have Mr Quinn declared bankrupt on the back of orders by the Commercial Court directing the businessman to repay loans of more than €2 billion.
He had intended to challenge the issuing of a bankruptcy summons, but this morning a solicitor on his behalf said he was withdrawing that challenge.
The solicitor also told the court that Mr Quinn was not opposing the bank's bankruptcy application.
Mr Quinn was not in court.
Lawyers for the bank said Mr Quinn's centre of main interests was in this jurisdiction.
Mr Quinn's affairs now come under the control of a court appointed official and he will have to submit a statement of affairs to him.
In a statement this afternoon, Mr Quinn said: ''Today Anglo achieved their goal of ensuring that I will never create another job.''
He also said Anglo has clearly shown it has a vendetta against him and his family.
"Given the expense incurred by Anglo in having my Northern Ireland bankruptcy overturned and the fact that today's judgment in no way improves Anglo's prospects of recovering money for the taxpayer, their actions clearly prove that it is a personal vendetta," it added.