Quinn Insurance in Administration

[AQMP]

I think this is the one.

Mr Quinn, who insists he deserves public gratitude. "There are few companies in the history of the state that have contributed more to the Irish government, taxpayer and people than I have," he says. "Overall, I don't think that I owe the Irish taxpayer any apology."

Is this what might become known in legal circles as the Armstrong-Savile defence...

[haranguerer]

Perhaps, if it comes out that the authorities forced armstrong to take the drugs, or savile to molest the children. Quinn wasnt responsible for his debts being put on the taxpayer.

[deiseach]

Perhaps, if it comes out that the authorities forced armstrong to take the drugs, or savile to molest the children. Quinn wasnt responsible for his debts being put on the taxpayer.

Whatever about the Anglo debt, the levy on every home and car insurance policy in Ireland for the next few decades is down to Seán Quinn and his sneering gombeen man contempt for the requirements of an insurance company. Even some wedding cake would be nice.

[supersarsfields]

Aye sure it had nothing to do with the splitting the company in two. To ensure you were fit to bring in money from both sides. I'm sure most companies would like to be able to seperate the unprofitable sections of the business and get the tax payers to pay for it rather than coming out of the profits.

And you're quite right the cake is the big story....

[sammymaguire]

Perhaps, if it comes out that the authorities forced armstrong to take the drugs, or savile to molest the children. Quinn wasnt responsible for his debts being put on the taxpayer.

Whatever about the Anglo debt, the levy on every home and car insurance policy in Ireland for the next few decades is down to Seán Quinn and his sneering gombeen man contempt for the requirements of an insurance company. Even some wedding cake would be nice.

You must love some of Michael O'Leary's business policies!

[supersarsfields]

THE Quinn family has issued a "declaration of war" on Anglo Irish Bank and will win that war, a daughter of fallen tycoon Sean Quinn has said.

Addressing a crowd of more than 7,000 supporters in Ballyconnell, Co Cavan, Ciara Quinn said her family was confident of winning its case against the Irish Bank Resolution Corporation.

Tyrone GAA manager Mickey Harte, Donegal's assistant manager Rory Gallagher as well as business people from north and south were among the speakers at the event organised just days before Mr Quinn could be jailed for contempt of court.

They heard Ciara Quinn claim that the companies once owned by her and her family were being run down, with jobs losses going unreported.

"It is heartbreaking for me and my family to watch the destruction of our companies," she said, as her father nodded in agreement.

"We were a very private, hard-working family who never courted media attention but our lives have been torn apart as has our life's work.

"Anglo is now spending millions of euro of taxpayers' money on a PR campaign against us."

But Ciara Quinn insisted the family would fight Anglo in the courts and would win. "Some day our war with Anglo with be over, and make no mistake about it for this is a war.

Cheers

"We will not go quietly into the night, we will go back to work, we will be back in business, we will create jobs again and we will succeed," she added.

Mickey Harte, in a reference to media coverage of his appearance at the last Quinn rally, said he had travelled to last night's event for two reasons. "One of those was to prove to myself that I'm not delusional," he said to loud cheers. "I've come here of my own free will because the Quinn family deserve our support."

All-Ireland winning coach Mr Gallagher told the crowd he is a close friend of Sean Quinn Jnr, having played gaelic football with him, adding: "The Quinn family are honest people, they are ordinary people and they are loyal people."

Mr Quinn's brother Peter Quinn launched a venomous attack on the media, calling them "b**tards" in a speech listing the family's grievances against Anglo and the State.

- Greg Harkin

Irish Independent

 

[orangeman]

Some tough talking there.


What next ? Election to the Dail ?.

May as well.

[supersarsfields]

That was actually mentioned yesterday, but I can't see it. I believe they will continue to put pressure on the politicians to try and get answers for the questions that they were asking? They're sending an email out to all TD's this week with a list of questions that they are looking to get answered. But I'm sure the response to that will be the sum of sweet FA.

[Declan]

You'd nearly feel sorry for him

[supersarsfields]

Nice.

[Hardy]

There are a few rules of gambling that SQ should acknowledge.

1. Don't gamble (a) with other people's money or (b) with money you can't afford to lose.
2. Don't rig the game in your own favour and then complain that you don't get paid out when you're caught.
3. When you lose, don't whinge. You're a gambler, remember? If you ruled out the possibility of losing, you didn't understand the game.
4. Just for emphasis, there's nothing more contemptible than a whinging loser. A whinging loser who's been cheating is even worse.

[supersarsfields]

There are a few rules of gambling that SQ should acknowledge.

1. Don't gamble (a) with other people's money or (b) with money you can't afford to lose.
2. Don't rig the game in your own favour and then complain that you don't get paid out when you're caught.3. When you lose, don't whinge. You're a gambler, remember? If you ruled out the possibility of losing, you didn't understand the game.
4. Just for emphasis, there's nothing more contemptible than a whinging loser. A whinging loser who's been cheating is even worse.

Maybe you should direct that one at Anglo Hardy, considering it was them them that rigged the game with false accounting and representation of their balance sheets.

And imagine a gambler complaining about a casino that was stacking the cards and rigging the games. 

[supersarsfields]

Nor does it mean that if you take a gamble on a bluechip company that you no longer have any rights or that you should keep quiet about transgressions against you. If anglo acted corruptly in their dealings with the Quinns, they should be held to task for that. The fact that Anglo is now the state doesn't mean that they should be given free reign to do as they like.

QIL wasn't the only insurance company in Ireland that wasn't following the rules of law regarding prudential regulations, nor were they the worst.

[Hardy]

The fact that Anglo was hooky doesn't absolve all other parties to the debacle from accusations of hookery, SS. Quinn tried to rig the market and take an unfair advantage against his competitors and the industry at large by treating the prudential regulations with contempt and running an insurance company like a bookie's shop. That's gambling with other people's money - first his competitors', and now that of all purchasers of insurance, who have ended up paying for it for the foreseeable future.

[Hardy]

Sorry, SS - I edited an error and re-posted, so the post you're  responding to now appears after yours.

Anyway, do you have the details on the other insurance companies that were flouting the prudential requirements, particularly those that were worse than Quinn? (Not that that makes any difference to the substance of my point.)