Quinn -v- Irish Bank Resolution Corporation Ltd (In Special Liquidation) & ors [2015] IESC 29, [2016] 1 IR 1 is a reported Irish Supreme Court case decision. This case involved businessman Sean Quinn and his Family in their dealings with Anglo Irish Bank. This important decision was about whether or not a contract is automatically unenforceable if it is illegal. Background Sean Quinn is a well known Irish businessman with five children. He built and formerly owned a large enterprise called Quinn Group. In 2005, he began to enter into contracts for difference trading with Anglo Irish Bank. With these contracts, the contractor can make money if the price of the inherent share in the company with which the contract is made goes up. But if the price of the share drops between when it was bought and when it was sold, the contractor has to pay the difference. Quinn bought these contracts through a company called Bazzely V Consultadoria Economica E Participacoes Sociedade Unipessoal LDA, which was registered in Madeira, Portugal.When the Anglo Irish Bank shares started to fall in the middle of 2007 Anglo began to call Quinn, asking him to pay what was owed under the contracts. In order to meet these repayments Quinn Group borrowed in several bundles over the next year, loans worth of more than a billion euro. By 2007, the shares were worth 24% of Anglo's issued share capital. In the loan negotiations for the last 200 million bundle, Anglo had to give them to Quinn Family Properties because Bazzly did not have a functioning bank account. The Quinn family members used their assets in the Quinn Group Portfolio as security against the debt. In 2009 Anglo Irish Bank was nationalised. For tax benefits the Quinns moved their shares with Anglo Irish Bank to six Cypriot companies. These companies were owned by the Quinn family and its loans were personally guaranteed by each of Sean Quinn's children, who owned one company each. The Quinn family claimed that these loans were illegal and unenforceable as they are allegedly in breach of section 60 of the Companies Act 1963 and the Market Abuse (Directive 2003/6/EC) Regulations 2005 (MAR). In 2011, Anglo Irish Bank brought a motion to the High Court requesting clarification as to whether the Quinn family can rely on these supposed breaches of legislation. Anglo Irish Bank argued that even if they are