Sean junior says 'badly needed' trust fund is appreciated

Published: 6 Dec 2012 13:002 comments

THE son of jailed businessman Sean Quinn has welcomed the creation of a trust fund set up to support his family's legal costs in their ongoing battle with the former Anglo Irish Bank.

Liam McCaffrey, Sean Quinn (junior) and Kevin Lunny at last week's meeting in Ballyconnell.

Liam McCaffrey, Sean Quinn (junior) and Kevin Lunny at last week's meeting in Ballyconnell.

As the costs of the Quinns' legal action against the Irish Bank Resolution Corporation continue to add up, Sean Quinn junior says the financial support from locals is "badly needed".

He told The Impartial Reporter: "There are a number of local business people who have set up a trust fund in Belfast to help us with our litigation. That support was very badly needed and is very much appreciated by me and my family."

Mr Quinn observed Sunday night's meeting in Ballyconnell as contributors discussed Quinn jobs.

In October he was released from Mountjoy Prison after serving three months for contempt of court while his father has served almost half of his nine-week term in prison for the same charge.

"Dad is keeping well and is very appreciative of all the letters and the support he is getting from people. He is very grateful of that and so are we," he said.

Meanwhile, the Quinns will ask the court next week to halt an action by IBRC claiming they conspired to strip multi-million euro assets from the family's International Property Group (IPG).

The family will ask that the case is put on hold until the outcome of their action against the bank, which is due in April 2013.

The Quinns claim the bank has no valid security over properties within the IPG and had also advanced some €2.4bn unlawfully to Quinn companies via loans to prop up its share price.

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