Quinlan UK filing for bankruptcy hit with delay

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The UK bankruptcy court hearing of Celtic Tiger-era real estate investor Derek Quinlan has been postponed following a motion from Edgeworth Capital, the fund of billionaire Robert Tchenguiz.

According to a clearance decision from the UK High Court in March Edgeworth requested that documents from Gerard Murphy, a longtime associate of Mr. Quinlan, and Owen Kelly be secured. Edgeworth said the documents are under Mr. Quinlan’s control and should be disclosed by him.

The consent order states that Mr. Quinlan, Mr. Murphy and Mr. Kelly have reached an agreement with Edgeworth on the documents that may result in sharing.

A business and property ruling by the UK High Court of Justice on May 17 shows that Edgeworth attempted to vacate and re-enact the April 30 trial. Both Edgeworth and Mr. Quinlan recently requested that the deadline for giving testimony be extended.

Edgeworth also tried to have his trial leave request heard privately.

Judge Snowden ordered that the trial, which was due to begin June 14th in a five-day window, be evacuated.

He also ordered an additional hearing to be held on June 16. The hearing is intended to “address and determine” issues such as retrial and any outstanding disclosure requests.

Mr. Quinlan’s and Edgeworth’s attorneys did not respond to a request for comment.

In February 2019, Edgeworth filed for bankruptcy against Mr. Quinlan. Mr. Quinlan later sued Edgeworth. There is a dispute over the debt burden of the Santander office complex near Madrid.

Mr. Quinlan and former business partner Glenn Maud Edgeworth bought the offices for 1.9 billion in 2008 and Aabar, the Abu Dhabi sovereign wealth fund, bought one of the loans.

A previous judgment said Edgeworth owed about € 80 million from Mr Quinlan.

In April 2019, Mr. Quinlan did not receive an injunction preventing the bankruptcy proceedings.



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