Intra Jurisdictional Bankruptcy and IBRC V Quinn

14 June 2012
Category: Legal Articles

The article below was written by Una Leavy, Solicitor in Mason Hayes & Curran's Debt Recovery department for publication in the IICM Credit Focus, Summer 2012 Edition. © Copyright IICM. All rights reserved

The adjudication of bankruptcy made in The High Court of Justice in Northern Ireland in November 2011 against Sean Quinn former Chief Executive of the Quinn Group, following the presentation of his own petition, was successfully set aside through a subsequent application brought by The Irish Bank Resolution Corporation (formerly Anglo Irish Bank Plc) in December 2011. This was an important and encouraging decision for financial institutions across Ireland, who have been left to deal with the bad loans of some of Ireland’s most well-known and formerly very high net worth individuals, many of whom have begun to make their way outside of this jurisdiction to present bankruptcy petitions elsewhere.

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