Sean Quinn to spend Christmas in prison

by Mary Carolan Bankrupt businessman Sean Quinn is beginning a nine week period of imprisonment this afternoon after a High Court judge said she was jailing him for "outrageous" contempt of court orders restraining stripping of multi-million assets from his family's international property group. Mr Quinn had decided to begin the term imposed on him this afternoon despite the fact he is appealing to the Supreme Court against the findings he acted in contempt, his lawyer said. Having been given time earlier today to consider the matter, Eugene Grant QC said Mr Quinn wanted to begin his jail term now as, while he was maintaining his appeal, he was also conscious of the Supreme Court's recent decision dismissing his son's finding against a three month sentence for contempt. Mr Quinn is a 66-year-old grandfather and was anxious to attend a grandchild's christening on December 22nd next but was not eligible for remission as this was a sentence for contempt, counsel added. He asked that the court agree to release him for that event. Ms Justice Elizabeth Dunne agreed with Shane Murphy SC, for irish Bank Resolution Corporation, formerly Anglo Irish Bank, that an application for compassionate release would have to be made to the prison authorities. In her ruling earlier today, Ms Justice Dunne ruled Mr Quinn's contempt was so serious she could come to no other conclusion than that it mandated a term of imprisonment. She could not ignore the extent and degree of contempt by Mr Quinn and, taking all various matters into account, including his health problems, would impose a nine week term. While Mr Quinn had spoken about how the court proceedings had negatively consumed his life and that of his family, she said: "In my view, he has only himself to blame." It was not disputed significant assets had been put beyond the reach of IBRC and the position of the Quinn defendants apperared to be they were so successful in that regard, they themselves could not retrieve the assets, the judge said. However, she did not have to decide that issue now. The situation was IBRC claimed it was owed €2.8bn by the Quinns and, while there was a serious dispute about that, it was accepted the Quinns owed €455m to the bank, she said. Putting assets beyond the reach of the bank in defiance of the court's orders was, as she had previously found, "nothing short of outrageous". It was important to ensure court orders were complied with and the integrity of the court system was not set at naught by "an egregious breach of court orders". A stay on the nine week term pending an appeal against the findings of contempt was adjourned earlier today after Mr Quinn's lawyer said he wanted time to consider whether to go to jail immediately. Shane Murphy SC, for IBRC, had said it would agree to a stay provided Mr Quinn's lawyers progressed any appeal urgently. At 12.50pm, Mr Grant said Mr Quinn had decided to begin his term immediately. In her decision earlier, the judge referred to her previous findings of contempt against Mr Quinn and her rejection of his evidence in the contempt hearing as not credible, evasive and unco-operative. She had also found he had given his "imprimatur "to the asset-stripping scheme. She stresssed the only issue she was dealing with today was the punitive aspect of the case as coercive matters have been adjourned. She was dealing with punitive issues arising from past non-compliance with court orders. The judge delivered her ruling in a courtroom packed with lawyers, journalists and supporters of Mr Quinn. Mr Quinn's son Sean and sons in law Niall McPartland and Stephen Kelly were also in court. IBRC was represented by its CEO Mike Aynsley and senior executive Richard Woodhouse. Mr Quinn was jailed arising from the judge's findings last June he acted in contempt of court orders made in June and July 2011 restraining stripping of assets valued up to US$430 million from companies in the IPG. The judge found contempt via his involvement in the assignment of multi-million loans and the backdating of documents with a view to showing the assignments occurred prior to the court orders. She also found contempt via his involvement in a €500,000 payment to Larissa Puga, general diredctor of Quin Properties Ukraine onthe eve of the bank's takeover of that company. Mr Quinn denied involvement in any of those matters and had also said he had co-operated fully with the bank in its efforts to recover assets. The bank disputed those claims. In appealing to the judge yesterday not to jail Mr Quinn, Mr Grant said Mr Quinn had several health issues and had fallen from being Ireland's richest man employing up to 8,000 people to a position where he was "bereft" and "bankrupt".