Thursday 30 March 2017

Emmet Oliver : Tycoon running out of options to pay vast debt

Emmet Oliver

Struggling borrowers with Anglo Irish Bank have a new bank manager to worry about and this bank manager is impatient, unsentimental and very angry.

As some of Ireland's largest borrowers struggle to meet their obligations to nationalised bank Anglo Irish, their inability to pay up puts them on a collision course with the ultimate owner of the bank, the Irish taxpayer.

Sean Quinn and his family are on such a collision course. They are fast running out of options to repay a staggering €2.8bn of debt to Anglo Irish.

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