The Irish Bank Resolution Corporation, formerly known as Anglo Irish Bank, is to challenge Seán Quinn's bankruptcy.

Mr Quinn applied to have himself made bankrupt in the High Court in Belfast on Friday.

In his petition to the court in Belfast, which was obtained by lawyers for IBRC this morning, he said he was doing this as the registered office and place of business of the Quinn Group companies was Derrylin in County Fermanagh.

He also said he was domiciled for tax purposes in Northern Ireland and his tax affairs were conducted in the UK.

Senior Counsel Paul Gallagher, for IBRC, said the bank had evidence which contradicted Mr Quinn's claim that his centre of main interest was in the North.

IBRC claims that Mr Quinn consistently indicated that his home address was Ballyconnell in County Cavan in the annual returns of 95 companies of which he was or is a director. He does not hold any directorships with active UK companies, the court was told.

The bank intends to bring an application by the end of this week or early next week to have the bankruptcy annulled.

Anglo is seeking judgment orders against Mr Quinn of more than €2 billion.

The Commercial Court today approved an application by IBRC to transfer the case into the fast-track division.

Mr Justice Peter Kelly granted a short adjournment on the application for judgment until next Monday to allow the court official in the North who will be responsible for Mr Quinn's bankruptcy to indicate his position to the court.

Liberty Mutual completes Quinn Insurance deal

The sale of Quinn Insurance to US insurance giant Liberty Mutual Group has been completed today. The transfer of all existing Quinn Insurance workers to Liberty Mutual's new Irish company has also been completed.

The new operation will trade under the name of Liberty Insurance and will continue to operate from existing offices in Cavan, Dublin and Enniskillen. Cavan will continue to be the company's headquarters.

The new boss of Liberty Insurance has been named as Patrick O'Brien, who was previously chief operating officer of Liberty Mutual Insurance Europe.

The Quinn company signage was taken down over the weekend at the Co Cavan headquarters, while the 'Q' spelt in gravel in a rock garden at the site was also dug up.

Quinn Irish insurance customers have been told that all contact details remain the same, and they do not need to take any action as a result of the change of ownership. Their policies have been transferred to Liberty Insurance and their existing premium and level of insurnace will be unaffected.

The sale of Quinn Insurance to Liberty Mutual and Anglo Irish Bank, now called Irish Bank Resolution Corporation, was approved by the High Court in June.

Liberty Mutual acquired 51% of Quinn Insurance earlier this year and will run the group. IBRC retains a 49% stake. The Insurance Compensation Fund is paying Liberty Mutual €738m to take over Quinn Insurance funded by a levy on insurance policyholders.

The Government has said the alternative to the takeover of Quinn Insurance would be its liquidation at a cost of up to €1.3 billion.

The former owner of Quinn Insurance, Séan Quinn, was declared bankrupt at a court in Belfast on Friday. The 64-year-old businessman, once Ireland's richest business man, was granted a voluntary adjudication over an alleged €2.8 billion debt owed to Anglo Irish Bank.

By declaring himself bankrupt in Northern Ireland, it means he only has to wait a year before going back into business - rather than 12 years here.