A conditional judgment for €445m is part of the settlement of the long and bitter litigation between the Quinn family and State-owned Irish Bank Resolution Corporation. The settlement covers proceedings by the Quinns against IBRC and receivers over Anglo loans of €2.34bn and by IBRC against the Quinns. They were joined to the case for the purpose of IBRC seeking an indemnity against them should the Quinns win their case. One portion of those was purchased by a group of investors known as the "Maple Ten" and the rest by the Quinn Group. €511m was also raised in late 2007 to loan monies to the Quinn group to “repair holes” in its finances and meet requirements of banks and bondholders.

Source: Irish Examiner April 02, 2019 10:18 UTC