The High Court contempt hearing against Seán Quinn Snr has been adjourned until tomorrow.
Ms Justice Elizabeth Dunne said she wanted time to consider submissions made today by the Irish Bank Resolutions Corporation and Seán Quinn.
This afternoon Senior Counsel for the bank, Shane Murphy, said submissions made today in defence of Mr Quinn Snr did not address the central issue the court has to consider.
Mr Murphy said the question to be asked was had Mr Quinn Snr purged his contempt and the answer was 'no'.
He said this was a case of civil contempt and not criminal contempt and a stay on any order was not an automatic right.
He disagreed with the findings of Mr Justice Adrian Hardiman in the Supreme Court that it was a "summary criminal trial".
Earlier lawyers for Mr Quinn Snr appealed to the court not to jail him for contempt.
Eugene Grant QC said it was his "impassioned plea" to the court that one of Ireland's leading entrepreneurs, who was now bereft of financial and economic dignity, should not be sent to jail.
Mr Grant said Mr Quinn Snr admits he was initially part of a scheme to keep assets for the Quinn company but did not breach any court orders. He also outlined his medical history and age.
The former billionaire is back before the High Court today for a review of contempt proceedings brought by IBRC, formerly Anglo Irish Bank.
Mr Grant said it was Mr Quinn Snr's belief that he had a grave injustice done to him by Anglo Irish Bank.
He said he had been induced to borrow money to prop up Anglo shares as they were about to go into free-fall. The loan contracts are tainted with illegality and are void, he added.
Lawyers for IBRC earlier told the court the bank continues to encounter fraudulent activity and delay orchestrated by the defendants to prevent it recovering assets in Quinn companies in Russia, Ukraine and India.
The court was told the Quinns continue to maintain they are powerless to unwind an asset stripping scheme but the bank does not accept that.
Mr Murphy read an affidavit by IRBC's Richard Woodhouse in which he said it appeared the Quinns are choosing to ignore court orders and findings of contempt and continue to take steps to move assets beyond he reach of the bank.
The court was told that the evidence will show the lengths the defendants are willing to go to in order to put assets beyond the bank's reach.
Legal action is now going on in ten different jurisdictions and is being met with back-dated corporate documents and assignments, the court was told.
It is alleged that, contrary to what he previously told the court, Mr Quinn Jnr had day-to-day control over Quinn companies.
IBRC will now engage local specialists in asset recovery in Russia and Ukraine in an effort to avoid the bank's interests being irreversibly damaged.
At the opening of the hearing this morning lawyers for IBRC said they will not be addressing the court on certain coercive orders made by the High Court last July in light of a recent Supreme Court judgment.
This said proper procedures had not been followed by the High Court in enforcing those orders against Mr Quinn Jnr.
Mr Murphy told the court there will have to be a recalibration of coercive orders made by the High Court in light of the recent Supreme Court judgment.
It was still open to the court to impose punitive measures against Mr Quinn Snr but that may be dealt with today or on another day, the court was told. The hearing continues.
In July Ms Justice Elizabeth Dunne found the father and son and Peter Darragh Quinn had not complied with orders to reverse the asset stripping of Quinn companies.
She jailed Seán Quinn Jnr for three months, a sentence upheld by the Supreme Court.
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