The State’s battle with the Quinn family has cost the public up to €170 million in legal and other fees, missing rental incomes, and other money that has gone astray, according to informed sources. As part of the arrangement, the children have consented to judgment for €440 million, or some €88 million each. The sale of this property would then be used to settle the debt owed by the Quinns. Asset-recovery groupThe global battle by the IBRC to assert its ownership over the property has cost tens of millions of euro in legal and other fees. A scheme involving a Russian asset-recovery group, which did not proceed as planned, cost the State-owned entity approximately €25 million.

Source: The Irish Times April 02, 2019 23:03 UTC