Sunday 23 July 2017

Taxpayers lose most in Quinn bankruptcy

Tycoon's real battle with the former Anglo Irish Bank lies ahead, writes Maeve Sheehan

SEAN Quinn provided an intriguing glimpse of life as a fallen tycoon during his failed bankruptcy proceedings in the North's High Court. Once Ireland's richest man, Quinn was "in shock" for weeks after the former Anglo Irish Bank sent in receivers to his Quinn Group last April to recover disputed unpaid loans of €2.3bn.

Quinn obviously thought the receivers would require his help in running the vast empire of concrete, glass and property he had founded. When it was clear they didn't, he "realised he needed an office", somewhere, to "deal with the challenges which would lie ahead", he said in his affidavit.

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