Aoife Quinn has no receipts for €370k spend in 1 year
There was just €6,000 left in her Ocean Bank account in Moscow by July 2012 after she withdrew, by Visa debit card, €376,000 paid into the account from June 2011, including bonuses of 2m roubles (€49,500). Most of the money went to pay legal fees, but she had no invoices or receipts, she said.
She and her sisters Ciara and Colette had voted, as company directors, in meetings lasting “five or 10 minutes” at one of their homes in Dublin on April 27, 2011 to sell shares in four companies in the Quinn international property group (IPG) for a price not less than the companies’ “charted capital”, when she did not know what “charted capital” meant and there were no documents before them.
When Mr Justice Peter Kelly asked whether that scenario was “credible”, Ms Quinn said the meetings were “very much a reactive step” to Anglo’s takeover of the Quinn companies two weeks earlier in “an illegal attempt to cover up Anglo’s fraudulent activities” arising from “widespread manipulation of its share price”.
Ms Quinn was being cross-examined by Paul Gallagher SC, for Irish Bank Resolution Corporation, formerly Anglo, to establish if she has fully disclosed all documents and information relating to her accounts and assets.
The cross-examination was permitted by Mr Justice Kelly prior to the full hearing of the bank’s action alleging a scheme by some members of the Quinn family to move assets in the IPG valued at €455m beyond its reach.
IBRC intends to cross-examine all five Quinn children and three of their spouses — Stephen Kelly, husband of Aoife Quinn; Karen Woods, wife of Sean Jr; and Niall McPartland, husband of Ciara Quinn.
The Quinns have appealed the order to the Supreme Court.
Ms Quinn denied Mr Gallagher’s suggestions that there were very significant deficiencies in her disclosure and reiterated she had disclosed all the documents she then had, when she swore disclosure affidavits. She also denied “complete failure” to identify documents she once had, but has no longer.
The hearing resumes on Tuesday when Ciara Quinn will be cross-examined.