Judge Elizabeth Dunne has been told the 66-year-old presents to the court bankrupted, forlorn, looking back at a starry career in the context of serious medial problems.

His lawyers have described him as having an unblemished record before his affairs with Anglo Irish Bank.

A man who borrowed £100 from a bank in 1973 and created the Quinn empire employing over 8,000 people and paying billions in tax until the business crashed along with Anglo in 2008.

Claims of ‘grave IBRC injustice’

His lawyers say he believes the now-titled Irish Bank Resolution Corporation (IBRC) are guilty of a grave injustice and that he was fraudulently induced to borrow money to prop up the Anglo share price.

He admits taking part in an asset stripping scheme but denies breaching court orders and he is appealing to the Supreme Court the findings of contempt against him.

Earlier we heard from IBRC lawyers that they are hiring an asset recovery agency to help recover Quinn property assets in Russia and Ukraine including the Kutuzoff Tower.