Thursday 29 June 2017

We can only wait as drama unfolds

THE Quinn drama grows more bizarre by the day. The script, packed with surprises, is being hastily scribbled behind the scenes, even as it unfolds.

Sean Quinn, a hero in the eyes of employees, to others a villain who gambled recklessly on Anglo Irish Bank shares to the tune of €3bn, would walk away from his empire if that is what it takes for its survival, according to his executives.

Last Monday, the group submitted a lengthy affidavit to the High Court, begging to be spared the humiliation of administration. Mr Quinn himself described the move as "the biggest mistake in Irish corporate history". But in a remarkable change of tack, the company yesterday welcomed the appointment of permanent administrators and even cheerfully looked forward to working with them.

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