29/06/2012

No Jail Time For Sean Quinn

Businessman Sean Quinn has been spared jail after being found guilty of contempt on Tuesday after hiding €500 million property portfolio from the former Anglo Irish Bank.

At the High Court in Dublin, his son Sean and nephew Peter Darragh Quinn were found to be dishonest over attempts to move his assets and hide them from the rebranded zombie bank.

Justice Elizabeth Dunne said: "I find it disappointing, at even this late stage, there seems to be no acknowledgment of the wrongdoing that has been done by the respondents in relation to specific matters that have been done."

She continued: "I've no doubt the first function of the court is to consider coercion and then after there's a response to coercive orders there may be an issue in relation to punitive measures. It will depend on the degree of cooperation in relation to your clients."

(CD/GK)

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