THE FAMILY of businessman Sean Quinn secured an injunction in the Cypriot capital of Nicosia last Sunday which they claim prevents Anglo Irish Bank “interfering” in their property companies in Cyprus and Russia.
The injunction secured in the District Court of Nicosia would “preserve the value of the Quinn property portfolio and allow those companies to retain their capacity to repay their debt”, they said.
A spokesman for the State-owned bank disputed this, saying: “They are looking to preserve the value of the portfolio for the family; the bank is looking to preserve value for the taxpayer”.
The family confirmed that they had initiated litigation in “a number of other jurisdictions, in particular Sweden and Cyprus”.
They said that it would be inappropriate to comment on the status of their litigation with Anglo but they “remain confident that they will be ultimately vindicated by the Irish courts”.
Allegations of impropriety by certain Quinn family members were “part of a concerted attempt by Anglo to further smear the family’s reputation and are being vigorously refuted”, the family said.
“The Quinn family obviously do not want a trial-by-media situation to develop and, as in the recent past, will continue to deal with all aspects of this matter through the judicial systems in the relevant jurisdiction,” they said.
The family said Anglo’s attempt “to wrest control of the property group from the family” by taking a legal action against Quinn Investments Sweden, the main holding company in their international property group, had failed.
