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Sunday 22 January 2017

Quinlan now lives the high life in London

Financier who owes Nama €200m is wining, dining and driving in style

Published 22/01/2012 | 05:00

Derek Quinlan leaving his home
Derek Quinlan leaving his home
Derek Quinlan's rented house in the upmarket London suburb of Putney
Mr Quinlan in a Range Rover with 'Sunday Independent' reporter Ronald Quinlan
the BMW 615 convertible in the driveway

Financier Derek Quinlan, who still owes over €200m personally to Nama, is living in a period mansion in London -- where the weekly rent runs to a staggering £3,463 (€4,144) -- and is driving a new Range Rover, which the Sunday Independent has learnt was bought recently for £90,000 (€108,000).

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Mr Quinlan's love of the finer things in life continues unabated despite the repeated vows of Nama chairman Frank Daly to bring an end to the excesses indulged in by the developers and speculators whose activities he says helped bring this country to its knees.

Indeed, the man who Ireland's wealthiest professionals once hailed as their King Midas for his ability to multiply their money even continues to wine and dine in the Berkeley Hotel in London.

Over Christmas, sources say Mr Quinlan splashed out over £10,000 (€12,000) on accommodation and food at the hotel. Not that the news of Mr Quinlan's lavish lifestyle should surprise Nama given its move last month to tender for up to 10 private investigators to delve into the affairs of the borrowers on its books.

While Mr Quinlan has paid down the estimated €600m he owed Nama personally to just over €200m, eyebrows will be raised here at home if it emerges that the agency doesn't inquire into his life in London, and how it is funded.

Sunday Independent

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