Quinn Insurance in Administration

[supersarsfields]

I haven't twisted anything. Nor have I said that Anglo were aware of the CFD's. But they were aware SQ was still buying shares directly in 2008 after they were aware of the CFD's. And your welcome to think what you like regards the "buyer nott Seller"  comments but my take on it would be different from yours.

[muppet]

I haven't twisted anything. Nor have I said that Anglo were aware of the CFD's. But they were aware SQ was still buying shares directly in 2008 after they were aware of the CFD's. And your welcome to think what you like regards the "buyer nott Seller"  comments but my take on it would be different from yours.

You seem to be clinging to this belief that somehow Anglo forced Sean Quinn into the CFDs. I have seen no evidence of this and I see no one else claiming this to be the case. Also, after Quinn told them he had built up a holding of 24%, he went ahead and bought more, of his own volition, while they wanted him to reduce his holding.

Now which of the above paragraph do you believe is untrue?

[supersarsfields]

Muppet, there's wires crossed alright. I've never claimed Anglo were aware of the CFD's before the meeting with SQ. But the group was never in danger before Anglo financed the marginal calls. The security of the group were not tied to the CFD's. Certain assets were, but not the group. So had SQ done what was claimed in the Anglo tapes and cut his losses the group wouldn't have been lost. Anglo couldn't risk these shares being dumped on the market. Anglo weren't offering the loans for the benefit of the Quins it was for their own protection and to try and stave of the crash that they knew was on the way anyway.

[muppet]

Muppet, there's wires crossed alright. I've never claimed Anglo were aware of the CFD's before the meeting with SQ. But the group was never in danger before Anglo financed the marginal calls. The security of the group were not tied to the CFD's. Certain assets were, but not the group. So had SQ done what was claimed in the Anglo tapes and cut his losses the group wouldn't have been lost. Anglo couldn't risk these shares being dumped on the market. Anglo weren't offering the loans for the benefit of the Quins it was for their own protection and to try and stave of the crash that they knew was on the way anyway.

Yes no one disputes that Anglo helped Quinn for their own good.

But the problem for the Quinns is that Sean Quinn was already screwed because of his bet.

That letter from McCaffrey puts it to bed.

The real question is why haven't the Quinn family put SQ and McCaffrey in the dock if, as you seem to suggest and correct me if I misunderstand, those two signed away property that didn't belong to them?

[supersarsfields]

I expect SQ to be part of the proceedings before the end. But SQ is bankrupt, so no compensation claim can proceed against him. But I expect Anglo to join him to the case along with Liam MCCAFFREY.

[muppet]

I expect SQ to be part of the proceedings before the end. But SQ is bankrupt, so no compensation claim can proceed against him. But I expect Anglo to join him to the case along with Liam MCCAFFREY.

If this is the road they are going, that letter could create serious problems.

[orangeman]

Tim Healy– 29 October 2013

THE sale of Sean Quinn junior's Dublin home for between €400,000 and €440,000 in the next four weeks will finally purge contempt of court orders against him, a judge said today.


Ms Justice Elizabeth Dunne said once the sale of the house at Alder Lodge, Castleknock is completed, that will be the end of the contempt proceedings against Mr Quinn who shares the house with his wife Karen Woods.

Mr Quinn's half of the proceeds will go to Irish Bank Resolution Corporation (IBRC) which brought contempt proceedings against him over a High Court finding he participated in a US$500,000 payment to the general director of Quinn Properties Ukraine (QPU), Larissa Puga, on the eve of IBRC'S takeover of QPU.

He was jailed for three months for contempt but he was still required to take steps to repay the money involved in order to fully purge his contempt.

To do so, he offered to sell the Dublin house and today his counsel Martin Hayden said Mr Quinn had received two valuations from auctioneers of €400,000 and €440,000.

A buyer has made an offer in which Mr Quinn's 50 per cent share can be paid as directed by the court, counsel said.

Ms Justice Dunne said this went some way towards meeting the requirement for Mr Quinn to purge his contempt.  While it was not the full amount, it was the best that can be done under the circumstances, she said.

Once the sale is complete, the matter should come back before her in December for the court to direct what should be done with the money received, she said.

When this is done, she said, "that will be the end of the matter as far as Sean Quinn junior is concerned," she said.

[orangeman]

Burn baby burn

Tanker set alight at Quinn Group HQ in Derrylin, County Fermanagh The fire was put out before it could spread to the building


A fuel tanker has been driven into the headquarters of the Quinn Group in County Fermanagh and set alight.

Firefighters were able to put out the fire in the tanker's cab before it spread to the building.

The tanker was reversed into the building on the Ballyconnell Road in Derrylin at around 23:00 GMT on Wednesday.

The company, recently rebranded as Aventas Group, condemned the "moronic attempt to disrupt our business".

The fuel tanker was reported to have been stolen from a nearby property in Derrylin.

It appeared to have been driven through security bollards at the entrance to the building.

It has a Cassidy Oils logo on the side and is surrounded by foam used to extinguish the fire.

'Sabotage'

The building is closed and police are still at the scene, which remains cordoned off.

The company statement said: "We are very grateful to the PSNI for their prompt response and to the local fire brigade, especially given the ever present danger of a tanker explosion.

"This latest incident is part of a continuing campaign of sabotage, intimidation and vilification against this company and certain of its employees.



--------------------------------------------------------------------------------
Aventas, the new name for Quinn Group, supposedly represents the arrival of something notable and new.

The attacks on this company however have become all too familiar.

Signs supporting the former owner Sean Quinn still line roads throughout the area.

"These people have a concerted agenda to undermine and destabilise our business with their own misguided and self-interested agenda in mind.

"Despite the 'concerns' regularly expressed by some of these people they have no regard for the impact such activities could have on our employees' jobs and on the local economy, which is so dependent on our businesses.

"Our group changed ownership nearly three years ago. With the continued support of our employees, we continue to face down this misguided minority with resolute determination."

'Grave concern'

Phil Flanagan, Sinn Féin MLA for Fermanagh and South Tyrone, said: "This is a despicable act and is not representative of the local community.

"Those behind these actions are not acting out of loyalty to the Quinn family and are not furthering any cause.

"The only result of such activity will be employment opportunities being impacted upon and that is a matter of grave concern for the people of the local community."

Police have asked anyone who was travelling on the Ballyconnell Road between 22:30 and 23:30 GMT, and who saw anything suspicious, to contact them on 0845 600 8000, or anonymously on Crimestoppers on 0800 555 111.

There have been a number of previous attempted arson attacks on Quinn Group property.

All were condemned by the company's former owner, Sean Quinn.

[Rossfan]

Lots of lovely premises around Co Roscommon that these people can relocate to.

[TabClear]

I see Sean sr was giving evidence at the Anglo trial today. really does show how some of these bankers operated back in the day. A loan of €500m arranged in a conversation to plug a "hole" like it was a parking ticket.
The numbers are frightening.

[muppet]

I see Sean sr was giving evidence at the Anglo trial today. really does show how some of these bankers operated back in the day. A loan of €500m arranged in a conversation to plug a "hole" like it was a parking ticket.
The numbers are frightening.

Quinn has some serious questions to answer as well. It was his 'hole'.

[TabClear]

Sean Quinn on trial is he? As he admitted on numerous occasions today he might have been greedy,stupid etc but there are no criminal charges against him. He gambled and lost. Big.

The case this week is about whether the house was stacking the deck in its favour.

[T Fearon]

Hopefully every single one of these cnuts will be jailed,and all their assets seized,sold and the proceeds put straight into state coffers.Great Gaels and great Irishmen? Don't make me laugh

[orangeman]

Nobody jailed yet apart from the Quinns and I'm not expecting to see the Anglo boys getting jailed.

[muppet]

Sean Quinn on trial is he? As he admitted on numerous occasions today he might have been greedy,stupid etc but there are no criminal charges against him. He gambled and lost. Big.

The case this week is about whether the house was stacking the deck in its favour.

Not really. You 'hole' analogy was better. Quinn had punched a massive hole in Anglo (although I think it would have gone down anyway in the long run) and the trial is whether Anglo's attempt to mitigate it was illegal.

But Quinn's initial disastrous gamble can't be blamed on Anglo or their useless management.