BANKRUPT ENTREPRENEUR Seán Quinn and two members of his family may face imprisonment if the former Anglo Irish Bank is successful in bringing a motion of contempt of court against him.
The bank, now known as the Irish Bank Resolution Corporation, filed papers in the High Court yesterday seeking to have Quinn, his son Seán Jr and his nephew Peter found in contempt for an alleged breach of an injunction issued in July.
That injunction ordered the family not to move certain overseas assets, after IBRC alleged that the family was trying to put some assets on which it had a claim beyond its reach.
That injunction remains in place while the case has been referred to the European Court of Justice, which has been asked to rule on matters relating to the jurisdiction of the Irish courts in the cases, which relate to foreign properties.
IBRC claims the Quinns, or companies connected to them, have facilitated the transfer of some of those properties to other offshore companies.
If the court upholds an application to find a party in contempt, it can have those parties imprisoned and their assets seized.
IBRC declined to comment, saying only that it matter was “entirely at the court’s discretion”.