Mr Justice Garrett Simons will begin hearing the case from next Tuesday. It had been due to open this week but was delayed after Mr Justice Michael Twomey recused himself following an objection from the Quinns on the basis he knew socially one of the 49 witnesses in the case.

The case concerns loans made of €2.34 billion.

The witness worked for Anglo Irish Bank, the predecessor in title to IBRC.

Mr Justice Twomey pointed out he had told the parties he knew the witness and other witnesses. He said he did not consider himself to have a conflict of interest as a result of his limited social contact with the witness and that it would not lead to bias when considering the evidence.

He added, however, that the perception of bias was a separate matter.

In their action, which was initiated in 2011, the Quinns dispute liability for loans of about €2.34bn advanced to their companies by the Anglo Irish Bank.

Another case by the IBRC against Quinn family members, which alleges a conspiracy to strip €455m assets from IPG companies in various countries, will be heard following the children’s action.