Quinn Insurance in Administration

[supersarsfields]

Your not really following this are you.. Today's judgement hasn't increased the chances of getting the money. It hasn't strengthened Anglos position on the foreign properties. It hasn't prevented The Quinns from protecting their assets. It just keeps SQ from going back into business for longer.

Hounding a Billionaire with assets? The kids have the assets. SQ declared his assets. Whether it's in the North or south it'll still amount to the same. Today's case makes no difference to that.

  Some people really don't seem to follow the whole process.

[sammymaguire]

It won't make a blind bit of difference apart from the main man's name staying off any important paperwork moving forward.

Now quote that line from sammymaguire in court ha ha 

[Orangemac]

Sean Quinn seems to have lost it a bit. Was on the news there saying he had never worked a day in his life in the South

Would agree that it wouldn't have taken a rocket scientist to have the lease and office in Derrylin sorted well before applying for bankruptcy in the North but then these are probably the same advisors who gave the great advice over CFDs.

Sean Quinn will be back in some shape or another, bankruptcy or not. Most of the money is well stashed at this stage.

[Mike Sheehy]

He even made the front page of the New York Times Business section on Sunday.

http://www.nytimes.com/2012/01/08/business/sean-quinn-and-irelands-boom-and-bust.html

Was reading that last Sunday and had to laugh when I saw this...

"According to court documents and interviews, after the bank took control of the Quinn Group, clues emerged that Mr. Quinn and several of his trusted executives were preparing for the worst. The bankers already knew that Mr. Quinn often created layers of companies for tax advantages, conducting his purchases of Anglo Irish shares, for example, through a company registered in Madeira. The bankers searched for clues in unlikely places — including Gaelic football blogs because of Mr. Quinn's ties to the Shamrocks. "

So which one of you has put us at the center of a world financial scandal...? 

What was even funnier was the fact that the print version has "Gaelic soccer blogs" 

[deiseach]

Your not really following this are you.. Today's judgement hasn't increased the chances of getting the money. It hasn't strengthened Anglos position on the foreign properties. It hasn't prevented The Quinns from protecting their assets. It just keeps SQ from going back into business for longer.

Hounding a Billionaire with assets? The kids have the assets. SQ declared his assets. Whether it's in the North or south it'll still amount to the same. Today's case makes no difference to that.

  Some people really don't seem to follow the whole process.

Good. The longer he can be prevented from piling up another debt then running away from it, the better.

[supersarsfields]

Yeah and the longer it will take to build 8000 new jobs and the taxes that will come along with that. You'll be waiting a long time for the government to do the same. 

[Mayo4Sam]

Yeah and the longer it will take to build 8000 new jobs and the taxes that will come along with that. You'll be waiting a long time for the government to do the same.

How long will it take us to repay the €2.8bn?

A lot longer than SQ will be out of directorships I'd bet

[muppet]

Yeah and the longer it will take to build 8000 new jobs and the taxes that will come along with that. You'll be waiting a long time for the government to do the same.

How long will it take us to repay the €2.8bn?

A lot longer than SQ will be out of directorships I'd bet

I have a toddler. His first tax contributions will go towards Anglo.

[supersarsfields]

Yeah and the longer it will take to build 8000 new jobs and the taxes that will come along with that. You'll be waiting a long time for the government to do the same.

How long will it take us to repay the €2.8bn?

A lot longer than SQ will be out of directorships I'd bet

SQ won't be in Directorship again.

It'll take a long time to clear the 2.8 Billion. Course it could have been cleared quicker but for the actions of the government and Anglo but sure what can you do.

[oisinog]

People are failing to understand That this was all AIBs doing themselves.

Yes Sean Quinn was greedy he admitted it himself but AIB lent this 2.8billion to Purchase shares in their own company. There is a major conflict of intrest here and this loan may not hold up under a court of law. I am surprised that this loan has not been queried in court yet

[Mayo4Sam]

It wouldn't have to be cleared at all if the richest man in Ireland isn't think he could double his cash on a quick deal. His excuse that the banks led him astray is ridiculous, imagine that someone that wanted you to buy into their plan only giving you the positives!! 

It appears SQ was cute enough to have his assets hid behind enough red tape that it will in all probably take the value of them and more to actually figure out where the assets are and how to get hold of them. But sure why worry its Anglos lawyers that are working to try and find it all and sure we're paying for that.
How people can forgive that is beyond me

[oisinog]

It wouldn't have to be cleared at all if the richest man in Ireland isn't think he could double his cash on a quick deal. His excuse that the banks led him astray is ridiculous, imagine that someone that wanted you to buy into their plan only giving you the positives!! 

It appears SQ was cute enough to have his assets hid behind enough red tape that it will in all probably take the value of them and more to actually figure out where the assets are and how to get hold of them. But sure why worry its Anglos lawyers that are working to try and find it all and sure we're paying for that.
How people can forgive that is beyond me

Hiding assets is a common enough for big companies he probably got the advice from AIB. Banks in the south were well known for doing things like this

[supersarsfields]

It wouldn't have to be cleared if Anglo hadn't falsely represented their books by 7 Billion. That's not "only giving the positives", that's fraud. And from the sound of it the Government knew about it at the time. So that's state fraud.

I would say Anglo will struggle to make any money out of the foreign properties alright. Again that was their fault as if they had tried to work with SQ ( Especially considering his loans were preforming ones before Administration) Instead they tried the nuclear route and it's backfired on them and the government and that's going to result in the break up of the group and the loss of jobs in an area that can little afford to absorb them.

[Mayo4Sam]

Here I'm in no way standing up for Anglo, they're a bunch of c***ts and the sooner we can prosecute for white collar crime the better but two wrongs and all that.

Quinn is no fool and playing the poor mouth doesn't really cut it when these assets are obviously still in the control of his family and/or associates. The man won't be needing the file anytime soon

[mylestheslasher]

What about the other side of Quinn. Currently he Quinn group employees 5500 people in Ireland and over 8000 worldwide. How many counties/areas have a home grown man that made as many jobs as this? In my lifetime the IDA created less than 50 jobs in Co Cavan. While I acknowledge Quinn made a severe f**k up I still maintain the country needs people like Quinn with the balls to set up companies and create jobs. What this ruling has done is prevent that happening for no good reason.