THE WIFE of businessman Seán Quinn has been ordered to repay a €3 million loan to the former Anglo Irish Bank, after the High Court ruled that she had no defence to offer.
Patricia Quinn had argued that she was not obliged to repay the loan, which was made jointly to herself and her husband in 2006, saying she had been placed under undue influence by her husband in signing the loan agreement.
The Irish Times reports Justice Peter Kelly as saying that there was no evidence of bullying or any other undue influence being placed on Mrs Quinn by her husband, formerly Ireland’s richest man.
Justice Kelly also noted that Irish law had not allowed for the presumption of undue influence between spouses since 1750.
Mrs Quinn had argued that she did not understand the documents she was signing, describing herself as a homemaker and arguing that she did not possess even a basic knowledge of business matters.
IBRC described this claim as ‘incredible’, RTÉ News reports, pointing out that Mrs Quinn was a director of 63 companies in Ireland and 28 in the United Kingdom.
Entering a summary judgment against Mrs Quinn for €3,059,951 plus costs, Justice Kelly also rejected an application by Mrs Quinn’s lawyers to have a stay granted on the order.
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