BANKRUPT NORTHERN Ireland businessman Seán Quinn yesterday reiterated his view that his family does not owe €2.8 billion to Irish Bank Resolution Corporation for debts owed to Anglo Irish Bank, largely via his family secretly acquiring a 29 per cent stake in the bank when it was a public company.

He said the liability now rests with Quinn Group, the diversified company that he controlled until a share receiver was appointed by the State-owned bank last year. Since then, Mr Quinn has challenged the legality of this action, has been declared bankrupt and found in contempt of court for deliberately moving Quinn Group assets overseas out of the reach of IBRC.

In an interview broadcast last night on Tonight with Vincent Browne on TV3, Mr Quinn said all except €445 million of the massive debt is owed by Quinn Group, a company that he no longer controls. He aired this view last Sunday in a radio interview with RTÉ.

He also said he had not “reneged” on a commitment to repay the money in full. “I have reneged on no promise, never did, never would,” he said.

“Of the €2.8 billion, €2.34 billion is being contested. We believe there’s €445 million of legal money owed [by the family].”

Mr Quinn said he informed Anglo on many occasions that he would repay the money in full. But this was based on his retaining control of the Quinn Group, which is involved in manufacturing, property and leisure, and being able to pay the banks from the company’s profits.

“We didn’t want . . . to feel that it would be said that we owed the Irish taxpayer any money,” he said. “We had no problem paying all the money plus interest. But now we don’t own any business. They [IBRC] have all the business. It’s them that owes the €2.8 billion, not the family or me that owes €2.8 billion. The €2.8 billion was borrowed by Quinn Group. It’s not my fault if they are going to take the company off me.”

Mr Quinn acknowledged that his actions in relation to Anglo were reckless.

“In hindsight, was I reckless? Was I wrong? Was I foolish? Yes, I accept that.”

Mr Quinn was also asked if he might consider a career in politics and run for the Dáil, especially after the support he received last week at a rally in Cavan and from senior members of the GAA community.

“I’ll run if you run [Vincent],” he replied. When Mr Browne said he had no intention of running for public office, Mr Quinn said: “Well then, I’m not going to run either. No, certainly not.”