THE COURT injunction secured by the family of businessman Seán Quinn in Cyprus prevents Anglo Irish Bank and the bank’s receiver from changing the board of directors at three Cypriot companies.
According to a source close to the family, the injunction prohibits four individuals which Anglo attempted to install as directors of the companies from taking any further steps in relation to the firms.
The family has queried and sought to inspect documentation that it claims Anglo is trying to use to appoint the four directors.
The bank had sought to appoint Paul McGowan, Brian O’Neill, Robert Dix and Rory O’Ferrall.
The Quinn family and the State-owned bank are embroiled in a dispute over control of the family’s international property group, which owns assets in Russia, Turkey, India and Ukraine.
Legal actions have been taken in Dublin, Stockholm, Moscow and Nicosia over control of the international properties worth an estimated €500 million. The family owes Anglo €2.9 billion.
Anglo appointed a Mr Nakmanovich as general director of several Russian companies on May 20th. The role of general director in Russia gives the individual control over the assets of a company.
Mr Nakmanovich was appointed to the Quinn’s Russian company Finansstroy and sought to enter the family’s Kutuzoff Tower office block in Moscow on May 31st but was refused entry.
The employees claimed he had not been properly appointed.
The Quinn family have claimed that the application for the injunction in the Cypriot court was made on June 23rd. Counsel for the family told the Irish High Court on Wednesday that the injunction was obtained on June 26th.
An injunction obtained by Anglo freezing the corporate structure of the Quinn property group was extended on Wednesday until a court hearing at 2pm today.
