Irish property tycoon Sean Quinn has been declared bankrupt by the high court in Dublin.
The bankruptcy application was made by the Irish Bank Resolution Corporation, formerly known as Anglo Irish Bank, which says it is owed more than £2bn by Quinn.
The ruling means that Quinn is now banned from being a director of a business for 12 years.
Quinn had filed for, and been granted, bankruptcy in the UK, where softer rules mean that he would have been banned from business for only 12 months. That bankruptcy was overruled last week, however.
In a statement, Quinn said: “Given the expense incurred by Anglo in having my Northern Ireland bankruptcy overturned and the fact that today’s judgment in no way improves Anglo’s prospects of recovering money for the taxpayer, their actions clearly prove that it is a personal vendetta.
“The position of the Irish taxpayer could have been improved significantly by a more reasonable approach to the issues involved.”
samantha.mcclary@estatesgazette.com
