Quinn Insurance in Administration

[supersarsfields]

We'll park it there. If ur unable to accept a simple fact then it's pointless.

[Angelo]

We'll park it there. If ur unable to accept a simple fact then it's pointless.

Are you fed up of defending the indefensible? Seems like you are.

You never clarified how SQ helped get the deal done either. It seemed Quinn simply wanted the business empire he had lost during his reckless gambling handed back to him for a song.

The current QIH management team have kept employment in the local area and made the business a viable one. They certainly don't seem to believe it is a vigilante group upset at the betrayal of Quinn who are behind it. They have explicitly stated that they believe the attacks have been financed and organised by a wealthy benefactor who has something to gain with ownership being passed over to the Quinn family.

Try and not be an ostrich all your life.

[supersarsfields]

We'll park it there. If ur unable to accept a simple fact then it's pointless.

Are you fed up of defending the indefensible? Seems like you are.

You never clarified how SQ helped get the deal done either. It seemed Quinn simply wanted the business empire he had lost during his reckless gambling handed back to him for a song.

The current QIH management team have kept employment in the local area and made the business a viable one. They certainly don't seem to believe it is a vigilante group upset at the betrayal of Quinn who are behind it. They have explicitly stated that they believe the attacks have been financed and organised by a wealthy benefactor who has something to gain with ownership being passed over to the Quinn family.

Try and not be an ostrich all your life.

Good man. And Tyrone has the best championship as well.

[Angelo]

We'll park it there. If ur unable to accept a simple fact then it's pointless.

Are you fed up of defending the indefensible? Seems like you are.

You never clarified how SQ helped get the deal done either. It seemed Quinn simply wanted the business empire he had lost during his reckless gambling handed back to him for a song.

The current QIH management team have kept employment in the local area and made the business a viable one. They certainly don't seem to believe it is a vigilante group upset at the betrayal of Quinn who are behind it. They have explicitly stated that they believe the attacks have been financed and organised by a wealthy benefactor who has something to gain with ownership being passed over to the Quinn family.

Try and not be an ostrich all your life.

Good man. And Tyrone has the best championship as well.

You still haven't told us how SQ helped get the deal done?

[Itchy]

Marty - You asked a page or two back about what the people in the vicinity think of Sean Quinn and the attacks. 1) I don't think locals believe he was behind the attacks first and foremost. 2) Locals are horrified by the attacks and those that carried them out have little support other than the few loons they always had 3) People think Sean Quinn should be involved in running what they see as his businesses. 4) There is a certain split in what the intentions of the current board is towards the jobs in the area. I think some reasonable people are so horrified by the attacks that they feel that they cannot ask hard questions of the current boards actions or intentions as they risk being seen as being aligned to the attacks.

That's what I understand, outside a survey of facts of course. Now there is also a lot of muck being thrown around on both sides which is making things less than clear.

For example, on prime time McCartan was on about how Lunney got his nose broke and he linked it to an ongoing threats but I understand it that the person who done that was aggrieved over a totally different matter and is not linked to anything going on now.

[supersarsfields]

Marty - You asked a page or two back about what the people in the vicinity think of Sean Quinn and the attacks. 1) I don't think locals believe he was behind the attacks first and foremost. 2) Locals are horrified by the attacks and those that carried them out have little support other than the few loons they always had 3) People think Sean Quinn should be involved in running what they see as his businesses. 4) There is a certain split in what the intentions of the current board is towards the jobs in the area. I think some reasonable people are so horrified by the attacks that they feel that they cannot ask hard questions of the current boards actions or intentions as they risk being seen as being aligned to the attacks.

That's what I understand, outside a survey of facts of course. Now there is also a lot of muck being thrown around on both sides which is making things less than clear.

For example, on prime time McCartan was on about how Lunney got his nose broke and he linked it to an ongoing threats but I understand it that the person who done that was aggrieved over a totally different matter and is not linked to anything going on now.

[/b]

I mentioned this on here that they were separate issues and more personal than to do it the Quinn saga. It's actually the same incident as the throwing cup of tea at LMcC aswell.

[TabClear]

We'll park it there. If ur unable to accept a simple fact then it's pointless.

Are you fed up of defending the indefensible? Seems like you are.

You never clarified how SQ helped get the deal done either. It seemed Quinn simply wanted the business empire he had lost during his reckless gambling handed back to him for a song.

The current QIH management team have kept employment in the local area and made the business a viable one. They certainly don't seem to believe it is a vigilante group upset at the betrayal of Quinn who are behind it. They have explicitly stated that they believe the attacks have been financed and organised by a wealthy benefactor who has something to gain with ownership being passed over to the Quinn family.

Try and not be an ostrich all your life.

Good man. And Tyrone has the best championship as well.

You still haven't told us how SQ helped get the deal done?

I do not have any insider knowledge of the specifics of this deal but if the US moneymen identified a due diligence risk that they needed community support or identified a gap in the operational expertise of the MBO team and thought that SQ would mitigate it then  its perfectly possible that they  made it a condition of providing the finance that SQ was involved in some capacity. That would be normal enough in a buyout like this.

[gallsman]

Absolutely true TabClear. Such US moneymen would also, however, be unlikely to treat the entire exercise as a masquerade to get the greedy bastard Seanie and his idiot son and nephew the business back.

[Angelo]

We'll park it there. If ur unable to accept a simple fact then it's pointless.

Are you fed up of defending the indefensible? Seems like you are.

You never clarified how SQ helped get the deal done either. It seemed Quinn simply wanted the business empire he had lost during his reckless gambling handed back to him for a song.

The current QIH management team have kept employment in the local area and made the business a viable one. They certainly don't seem to believe it is a vigilante group upset at the betrayal of Quinn who are behind it. They have explicitly stated that they believe the attacks have been financed and organised by a wealthy benefactor who has something to gain with ownership being passed over to the Quinn family.

Try and not be an ostrich all your life.

Good man. And Tyrone has the best championship as well.

You still haven't told us how SQ helped get the deal done?

I do not have any insider knowledge of the specifics of this deal but if the US moneymen identified a due diligence risk that they needed community support or identified a gap in the operational expertise of the MBO team and thought that SQ would mitigate it then  its perfectly possible that they  made it a condition of providing the finance that SQ was involved in some capacity. That would be normal enough in a buyout like this.

This was not the case as it seems it was the current QIH management team that convinced the Americans to take Quinn on as an external consultant.

You can understand the reservations that any outside investor may have in providing Quinn with a shareholding after the campaign which had taken place when the business was in receivership.

If this was the case, why did Quinn feel the need to front people on his behalf?

[TabClear]

Absolutely true TabClear. Such US moneymen would also, however, be unlikely to treat the entire exercise as a masquerade to get the greedy b**tard Seanie and his idiot son and nephew the business back.

Fair point. They will have backed the management team of LMC/KL etc (who I assume have equity interest). That doesnt preclude the management team from agreeing with the financiers that they had addressed any perceived risk as above through a consultancy arrangement with SQ. My point is that SS's assertion that SQ was required to get the deal over the line is possible, even likely, otherwise the funders would never have allowed such a lucrative agreement to be put in place. Clearly the US guys must have been ok with the arrangement as I assume  it is paid from company money. What was discussed between SQ and the MBO team as a side agreement we will probably never know so it is pure speculation.

[Angelo]

Marty - You asked a page or two back about what the people in the vicinity think of Sean Quinn and the attacks. 1) I don't think locals believe he was behind the attacks first and foremost. 2) Locals are horrified by the attacks and those that carried them out have little support other than the few loons they always had 3) People think Sean Quinn should be involved in running what they see as his businesses. 4) There is a certain split in what the intentions of the current board is towards the jobs in the area. I think some reasonable people are so horrified by the attacks that they feel that they cannot ask hard questions of the current boards actions or intentions as they risk being seen as being aligned to the attacks.

That's what I understand, outside a survey of facts of course. Now there is also a lot of muck being thrown around on both sides which is making things less than clear.

For example, on prime time McCartan was on about how Lunney got his nose broke and he linked it to an ongoing threats but I understand it that the person who done that was aggrieved over a totally different matter and is not linked to anything going on now.

1. Why don't they believe he was behind the attacks? The current QIH management team seem to be fairly certain that these attacks are orchestrated and financed by a moneyman who stands to gain from the business going back into the hands of the Quinn family.
2. Fair enough but who do they think are behind them and why do they differ so much with views of the victims of the attacks?
3. He lost those business through his own reckless mistakes and behaved abhorrently in hiding assets and reneging on his debts, putting the burden of his mistakes on the taxpayer.
4. What jobs in the area. Apparently QIH employ 840 people locally in the area, in the construction line of the Quinn business empire, what would the employment numbers have been at boom times? How can they shift these jobs. They own all the plant machinery, equipment, property in that area - it would not be financially viable to move. It's not like a technology company. This seems like very poorly thought out excuses from the Quinn cultists. What jobs are under threat? Specifically?

[Angelo]

Absolutely true TabClear. Such US moneymen would also, however, be unlikely to treat the entire exercise as a masquerade to get the greedy b**tard Seanie and his idiot son and nephew the business back.

Fair point. They will have backed the management team of LMC/KL etc (who I assume have equity interest). That doesnt preclude the management team from agreeing with the financiers that they had addressed any perceived risk as above through a consultancy arrangement with SQ. My point is that SS's assertion that SQ was required to get the deal over the line is possible, even likely, otherwise the funders would never have allowed such a lucrative agreement to be put in place. Clearly the US guys must have been ok with the arrangement as I assume  it is paid from company money. What was discussed between SQ and the MBO team as a side agreement we will probably never know so it is pure speculation.

Why were they dealing with middle men if Sean Quinn was integral to the deal? It seems the only clout Quinn may had in any negotiations is calling off the hounds and the hounds were called off in the brief time Quinn was employed at QIH.

[TabClear]

Marty - You asked a page or two back about what the people in the vicinity think of Sean Quinn and the attacks. 1) I don't think locals believe he was behind the attacks first and foremost. 2) Locals are horrified by the attacks and those that carried them out have little support other than the few loons they always had 3) People think Sean Quinn should be involved in running what they see as his businesses. 4) There is a certain split in what the intentions of the current board is towards the jobs in the area. I think some reasonable people are so horrified by the attacks that they feel that they cannot ask hard questions of the current boards actions or intentions as they risk being seen as being aligned to the attacks.

That's what I understand, outside a survey of facts of course. Now there is also a lot of muck being thrown around on both sides which is making things less than clear.

For example, on prime time McCartan was on about how Lunney got his nose broke and he linked it to an ongoing threats but I understand it that the person who done that was aggrieved over a totally different matter and is not linked to anything going on now.

1. Why don't they believe he was behind the attacks? The current QIH management team seem to be fairly certain that these attacks are orchestrated and financed by a moneyman who stands to gain from the business going back into the hands of the Quinn family.
2. Fair enough but who do they think are behind them and why do they differ so much with views of the victims of the attacks?
3. He lost those business through his own reckless mistakes and behaved abhorrently in hiding assets and reneging on his debts, putting the burden of his mistakes on the taxpayer.
4. What jobs in the area. Apparently QIH employ 840 people locally in the area, in the construction line of the Quinn business empire, what would the employment numbers have been at boom times? How can they shift these jobs. They own all the plant machinery, equipment, property in that area - it would not be financially viable to move. It's not like a technology company. This seems like very poorly thought out excuses from the Quinn cultists. What jobs are under threat? Specifically?

I'm sure there was plenty of kit in Michelin, Gallaghers, Schlumberger, Wrightbus etc. Sometimes it does make financial sense to move despite this.

[TabClear]

Absolutely true TabClear. Such US moneymen would also, however, be unlikely to treat the entire exercise as a masquerade to get the greedy b**tard Seanie and his idiot son and nephew the business back.

Fair point. They will have backed the management team of LMC/KL etc (who I assume have equity interest). That doesnt preclude the management team from agreeing with the financiers that they had addressed any perceived risk as above through a consultancy arrangement with SQ. My point is that SS's assertion that SQ was required to get the deal over the line is possible, even likely, otherwise the funders would never have allowed such a lucrative agreement to be put in place. Clearly the US guys must have been ok with the arrangement as I assume  it is paid from company money. What was discussed between SQ and the MBO team as a side agreement we will probably never know so it is pure speculation.

Why were they dealing with middle men if Sean Quinn was integral to the deal? It seems the only clout Quinn may had in any negotiations is calling off the hounds and the hounds were called off in the brief time Quinn was employed at QIH.

What do you mean by middle men? They clearly were backing the management team. As I said, its normal enough in an MBO for funders to want to bring in external advisers/consultants etc to bulk up the management team derisk their investment.  I dont think its unreasonable to assume that they saw SQs decades of experience in running the business as beneficial. Nothing to do with hounds.

[Angelo]

Marty - You asked a page or two back about what the people in the vicinity think of Sean Quinn and the attacks. 1) I don't think locals believe he was behind the attacks first and foremost. 2) Locals are horrified by the attacks and those that carried them out have little support other than the few loons they always had 3) People think Sean Quinn should be involved in running what they see as his businesses. 4) There is a certain split in what the intentions of the current board is towards the jobs in the area. I think some reasonable people are so horrified by the attacks that they feel that they cannot ask hard questions of the current boards actions or intentions as they risk being seen as being aligned to the attacks.

That's what I understand, outside a survey of facts of course. Now there is also a lot of muck being thrown around on both sides which is making things less than clear.

For example, on prime time McCartan was on about how Lunney got his nose broke and he linked it to an ongoing threats but I understand it that the person who done that was aggrieved over a totally different matter and is not linked to anything going on now.

1. Why don't they believe he was behind the attacks? The current QIH management team seem to be fairly certain that these attacks are orchestrated and financed by a moneyman who stands to gain from the business going back into the hands of the Quinn family.
2. Fair enough but who do they think are behind them and why do they differ so much with views of the victims of the attacks?
3. He lost those business through his own reckless mistakes and behaved abhorrently in hiding assets and reneging on his debts, putting the burden of his mistakes on the taxpayer.
4. What jobs in the area. Apparently QIH employ 840 people locally in the area, in the construction line of the Quinn business empire, what would the employment numbers have been at boom times? How can they shift these jobs. They own all the plant machinery, equipment, property in that area - it would not be financially viable to move. It's not like a technology company. This seems like very poorly thought out excuses from the Quinn cultists. What jobs are under threat? Specifically?

I'm sure there was plenty of kit in Michelin, Gallaghers, Schlumberger, Wrightbus etc. Sometimes it does make financial sense to move despite this.

Wrightbus for one, is in administration.

Where is the vast majority of QIH's business conducted? Ireland or overseas?