Quinn Insurance in Administration

[supersarsfields]

Anglo. They were the financially regulated instution. The onus was on them to ensure any loans they made were legal and enforcable. 

[armaghniac]

So if the loans are found to have been illegal, who should be liable for them?

[supersarsfields]

Yeah that kinda sucks I suppose. But that's what the state agreed to when going through the bank guarantee. They can't pick and choose their liabilities.
Obviously it will depend on whether the loans are deemed illegal or not.

[LeoMc]

Anglo. They were the financially regulated instution. The onus was on them to ensure any loans they made were legal and enforcable.

If SQ was aware (and I am not saying he was) that the loans were not kosher would there not be an element of liability on him also?

[boojangles]

Anglo. They were the financially regulated instution. The onus was on them to ensure any loans they made were legal and enforcable.

If SQ was aware (and I am not saying he was) that the loans were not kosher would there not be an element of liability on him also?

I think having your profitable business empire taken away from you is a big enough liability, would you agree?

[supersarsfields]

Anglo. They were the financially regulated instution. The onus was on them to ensure any loans they made were legal and enforcable.

If SQ was aware (and I am not saying he was) that the loans were not kosher would there not be an element of liability on him also?

There would indeed. I'm not saying that SQ wasn't guilty of anything. That's why the whole issue of the loans should be looked at before any enforcement of them.

[LeoMc]

Anglo. They were the financially regulated instution. The onus was on them to ensure any loans they made were legal and enforcable.

If SQ was aware (and I am not saying he was) that the loans were not kosher would there not be an element of liability on him also?

I think having your profitable business empire taken away from you is a big enough liability, would you agree?

Depends upon how culpable he is.

[supersarsfields]

Fair enough, that's why it should be investigated now before the loans are enforced. There's a big rally this evening at 7 in ballyconnell to show support for the quinns and to ask the state to stop the enforcement of these loans until they are fully investigated. There will be a few Prominent and interesting speakers to discuss it. Just in case any of you's wanted to go!!

[LeoMc]

Fair enough, that's why it should be investigated now before the loans are enforced. There's a big rally this evening at 7 in ballyconnell to show support for the quinns and to ask the state to stop the enforcement of these loans until they are fully investigated. There will be a few Prominent and interesting speakers to discuss it. Just in case any of you's wanted to go!!

Agreed, but are they not freezing the assets until that is determined?

[Aaron Boone]

Peter Darragh was at the Belcoo-Tempo match on Fri says the BBC.

[Tony Baloney]

Peter Darragh was at the Belcoo-Tempo match on Fri says the BBC.

Worse punishment than jail.

[supersarsfields]

Fair enough, that's why it should be investigated now before the loans are enforced. There's a big rally this evening at 7 in ballyconnell to show support for the quinns and to ask the state to stop the enforcement of these loans until they are fully investigated. There will be a few Prominent and interesting speakers to discuss it. Just in case any of you's wanted to go!!

Agreed, but are they not freezing the assets until that is determined?

No they are freezing everything on the Quinns side. But are still allowing Anglo a free reign on asset recovery. Including organising sales of assets.

[Oldhacker]

According to Twitter and Facebook, the main speakers at tonight's rally in Ballyconnell in support of the Quinn family are Mickey Harte, Sean Boylan and Colm O'Rourke. With Peter Quinn junior turning up with his father at the Fermangh championship match on Friday, the impression is being given that the GAA is backing the Quinn campaign all the way.

[firestarter]

I dont understand what they are hoping to achieve. I'm aware of all that the quinn family did for the people of this part of the world but they took gambles by way of investments which they lost on. The net result is that they owe the Irish tax payer and have acted illegally in trying to prevent this debt being recovered. Am I missing something here??

[LeoMc]

Tony Fearon and Newton Emerson giving a few good quotes about this on twitter. Newton wont be holidaying round Fermanagh for a while.