Quinn Finance is seeking the repayment of over €6m from a son-in-law of its former boss, Seán Quinn.
Lawyers for Quinn Finance told the Commercial Court that Niall McPartland had an account in his name with NCB stockbrokers which made investments in contracts for difference (CFD) positions on Anglo Irish Bank shares.
Quinn Finance says the company, under its previous managment, paid more than €6m in to this account in 2008 to meet margin calls on the positions as the Anglo share price fell.
However, lawyers for Mr McPartland, who is married to Sean Quinn's daughter, Ciara, said he would say he signed documentation in 2008 to set up this account at the request of Quinn Finance.
Barrister Rossa Fanning said Mr McPartland did not understand himself to have any beneficial interest in the account.
Mr Fanning said all of the dealings on the account were carried out by representatives of Quinn Finance without any reference to Mr McPartland.
He said Mr McPartland had "unwisely" allowed his name to be used on this account, following a request from someone in Quinn Finance, for company trading.
Mr Fanning said Mr McPartland did not stand to benefit from this account even if the investment had been profitable - his position is that the money would have been held in trust for the benefit of the company.
