independent

Thursday 17 April 2014

Anglo: What they said - day four

Brendan Grehan SC, council for Patrick Whelan, one of the accused men
Brendan Grehan SC, council for Patrick Whelan, one of the accused men

* I thought it was a marvellous institution. It had grown its profits by 30pc compound over 30 years."

Sean Quinn snr on why he invested in Anglo Irish Bank.

*  We thought, 'we are on our own. Obviously no one else thinks it.' We thought we took a very conservative approach." Sean Quinn snr on the same investment.

*  There were brokers left, right and centre talking about Anglo being the best bank in the world." Sean Quinn snr on Anglo Irish Bank.

*  It started off friendly enough but it didn't end friendly." Sean Quinn snr on a meeting with David Drumm.

*  We'd always like to keep under the radar." Sean Quinn snr.

*  I rang David Drumm in the first or second week in December 2007. He asked me what it would take to sort it out. I said about €400m and he was back within the hour, and he'd give me €500m to tidy it up." Sean Quinn snr.

*  We lost €3.2bn through the Anglo fiasco. I was a fool." Sean Quinn snr

*  We didn't mean to go in as deep as we did." Sean Quinn snr

*  In 40 years of the Quinn Group, I was never involved in the administration of the company. I left school at 15, so I leave that to others. I was involved in spending money stupidly." Sean Quinn snr

*  You were scaring him into lending you the money. Is that not the reality?" Brendan Grehan, SC, for Patrick Whelan.

*  Your account of events is coloured very much by your losses." Brendan Grehan.

*  I don't call it a loan. They had invested in our name in their bank." Sean Quinn snr.

*  The bank was in rude health and we shouldn't be pursuing legal proceedings. We'd come to a gentleman's agreement and we'd all live happily ever after." Sean Quinn snr on what he heard at a meeting with David Drumm and Sean FitzPatrick after the guarantee.

Irish Independent

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Independent.ie on Twitter

More

Most Read

Daily Deals

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News