Saturday 27 May 2017

Dearbhal McDonald: Unravelling the intricate web spun by Sean Quinn

Dearbhal McDonald

An international property portfolio worth €500m is the real battleground for the High Court showdown between the Quinn family and Anglo Irish Bank.

It represents the bank's best chance of recovering some of the almost €3bn loaned to Quinn companies. And it represents the best chance for Mr Quinn's wife and children to secure part of the empire built by Sean Quinn Snr over nearly four decades.

The manner in which Sean Quinn Snr managed his conglomerate is mind-boggling. For inheritance, tax and legal reasons, he didn't actually own anything and Anglo did not actually lend directly to the Quinn Group.

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