Sean Quinn Junior offers to purge contempt of court
33-year-old seeking to sell Dublin apartment
13:13 Thursday 13 December 2012
Sean Quinn Junior - the son of the jailed bankrupt businessman - has offered to purge his contempt of court by selling his exclusive Dublin apartment.
The High Court was told prior to the traumatic events of the last 2 years he had planned to make the Castleknock property, owned by him and his wife Karen Woods, a family home.
The couple got married last May just weeks before the 33-year-old was jailed for 3 months in Mountjoy Prison for breaching court orders.
Ms. Justice Elizabeth Dunne found Mr. Quinn Junior facilitated a US$500,000 payment to Larissa Puga, a former director of Quinn Properties Ukraine.
She ruled this was in defiance of 2 court orders secured by IBRC, stopping the Quinn's from moving assets in their business empire beyond the reach of the bank, which is chasing the Quinn family over alleged debts of €2.8 billion.
Couple seek to defer sale
Today the court heard Sean Quinn Junior has made an offer to purge his contempt by selling the only asset he has with a value close to the US$500,000 payment he facilitated; the 50% stake he holds in Alder Lodge, an exclusive Dublin apartment near Farmleigh, which he owns with his wife Karen Woods.
Under the proposal his share of the proceeds of the sale would be lodged in court.
The couple want to defer the marketing and the sale of the property until next September to allow them time to regularise their lives together.
Shane Murphy, SC, for IBRC, said the bank is prepared to 'instructively engage' with Mr. Quinn Junior on this issue.
Ms. Justice Elizabeth Dunne has given the parties time to talk by putting the case back until next Wednesday.