| 3.5°C Dublin

IBRC on hunt for Quinn family gold

TWO “informants” who claim to have information about offshore gold belonging to members of the Quinn family struck a deal with the special liquidator of the former Anglo Irish Bank, a court has heard.

The Commercial Court has heard that informants have told Anglo that the Quinns enlisted several individuals to put their assets beyond the bank’s reach.

These individuals will not be named, because of ongoing concerns about their personal safety in lights of a spate of attacks on former Quinn assets.


They have made an agreement which will see the the IBRC give the informants 3pc of any cash recovered on foot of their information.

High Court judge Mr Justice Peter Kelly heard that the alleged undisclosed assets could be substantial.

Judge Kelly also heard details of an alleged “travelling fixer” used by the Quinn family.

The new information was revealed after the lifting of a gagging order at midnight last night, the Commercial Court heard.

The newly-discovered material includes email correspondence including an email address which the IBRC says is “central to the Quinn family’s scheme”.

Senior Counsel Paul Gallagher, for IBRC, made an application to update the court on developments in other countries, including the UK and America.

Judge Kelly thanked the IBRC for updating the court and gave the IBRC permission to bring any further applications on foot of recent developments.

The IBRC acted on the informants’ claims after conducting due diligence on documentary evidence provided to the bank by the duo through their solicitor.


Last February the IBRC secured secret orders in the Commercial Court in London against Investec Bank and one of its employees in relation to the alleged gold and money transfer claims.

The informants’ claims were revealed hours after the US courts lifted a gagging order on the latest efforts by the IBRC (formerly Anglo) to trace hundreds of millions worth of assets the bank claims were put beyond its reach by the family of the former billionaire.

The US gagging order and court seal expired at 5am on Friday morning and at 11am the IBRC presented the new information to the Commercial Court in Dublin.

The Quinns have insisted they have disclosed all their assets as required by court orders.